Ford aims to make cheaper EVs with new vehicle platform
Ford has announced plans to build cheaper electric vehicles based on a new universal platform.
- The study only includes EVs that have been in production for at least four years, so Ford, with its Mach-E, is the only U.S. automaker on the list.
- Used prices for Teslas and Porsche Taycans have increased since the federal EV tax credit ended.
- Prices for most other used electric vehicles have fallen since the tax credit expired.
Since the federal tax credit for used electric cars ended last fall, prices for used electric cars from almost every manufacturer have fallen, with the exception of Tesla models and the Porsche Taycan, which have soared in price.
Since the EV credit ended on September 30, 2025, the average price of used Tesla models has increased by 4.3%, while the price of used electric vehicles from nearly every other manufacturer has decreased by an average of 3.6%, according to new research from iSeeCars.com.
The study only includes EVs that have been in production for at least four years, so Ford Motor Co., with its Mach-E, is the only U.S. automaker with an EV on the list.
Karl Brauer, executive analyst at iSeeCars, said Tesla’s prices are rising in the used market compared to falling prices for other brands because demand for Tesla in the used car market remains strong. He said there is a core group of shoppers who either can’t afford a new Tesla or want to wait until they can get a better price by buying a used model.
“Even after the political turmoil of the last year, there is still a large and loyal Tesla fan base in the new and used car world,” Brauer said, referring to the turmoil caused by Tesla CEO Elon Musk’s involvement in the Trump administration. “These price trends suggest that Tesla loyalty in the used market is stronger than nearly every other electric brand and model.”
Brauer said the decline in non-Tesla EV values is likely due to the loss of up to $4,000 in federal tax credits on eligible used EVs, in particular, and the need to lower prices to find buyers.
“Tesla fans are passionate fans of cars and electric vehicles, both new and used,” Brauer said. “Non-EV buyers are less interested in technology and, as a result, more price sensitive.”
Buyers can find value in used EVs
For car shoppers, this means if you’re looking for a good value used EV, you might be able to find a used non-Tesla model at a good price right now.
“If an electric vehicle meets your needs, you should take advantage of the opportunity to buy a cheaper used EV,” Brauer said. “Tesla is doing well in the used market, but there are many other options to consider besides Tesla, many of which have similar range to Tesla but offer newer styling, more traditional interior design, and control layouts that many consumers prefer.”
Brauer said some of these models may have higher depreciation costs than Tesla, but because of lower initial costs, the total cost of ownership could end up being about the same.
If you wait a while, it might get even better. Brauer said the number of EV leases is increasing from 2023 to 2025, which means a large number of EVs will enter the used market as leases end in the coming years.
“This increase in EV leasing revenue and the loss of credits for new and used EVs will result in more supply than demand and used EV prices will fall,” Brauer said. “Buyers looking to purchase a used EV will find more choice and lower prices in the coming years. And because all electric vehicle batteries come with a federally mandated eight-year, 100,000-mile warranty, these buyers should feel confident purchasing a three- or four-year-old EV.”
Used EV market is strong
The federal tax credit for used EVs ended on September 30th, along with a similar tax credit of up to $7,500 off qualifying new EVs.
The iSeeCars study analyzed the list prices of more than 1.7 million used cars sold in September 2025 and January 2026 with a one- to five-year decline to identify price trends since the EV credit was cancelled. The study only looks at EVs produced in the past four years, so it doesn’t include many of the Detroit Three. Ford Lightning goes on sale in spring 2022. Low-volume models and large vehicles are also excluded from the analysis, which is why General Motors’ GMC Hummer EV is not included in the analysis.
The study aggregated drivetrains and models to calculate average prices and compared them over two time periods.
According to the same study, comparing the price trends of used EVs and used gasoline cars since the end of the EV credit, the price of EVs has increased by 3.5%, while the average price of gasoline cars has fallen by 2%, suggesting that the used EV market is solid. However, the company pointed out that the price increase for used EVs is almost entirely driven by Tesla’s price increase.
The average price of a used gasoline car in September was $31,900, and the average price in January was $31,249.
“Tesla still commands a large portion of the used EV market, meaning Tesla’s price increases have led to an overall increase in used EV prices since September,” Brauer said.
EVs with the highest sales volume will be hit the hardest.
Here are some examples of how we looked at the average price change for used EVs between September and January 2025.
- Ford Mustang Mach E:In September 2025 it was $30,575. In January, it fell 5.1% to $29,014.
- hyundai kona electric:In September 2025 it was $21,020. In January, it fell 6.4% to $19,678.
- nissan leaf:In September 2025 it was $16,360. In January, it fell 4.6% to $15,606.
- Tesla Model X: In September, it was $51,973. In January, it rose 10.3% to $57,306.
- Tesla Model S: In September, it was $47,226. In January, it rose 8.5% to $51,249.
- tesla model 3:September was $25,061. In January, it rose 2.6% to $25,701.
- Tesla Model Y:September was $29,603. In January, it rose 1.3% to $29,989.
- porsche taycan:September was $74,465. In January, it rose 4.1% to $77,552.
“Pricing for low-cost electric vehicles has not been successful since the EV Credit expired, with high-volume models such as the Hyundai Kona Electric, Volkswagen ID.4, Kia Niro EV and Ford Mustang Mach-E down more than 5%,” Brauer said.
Jamie L. Lareau is a senior auto writer covering Ford Motor Company for the Detroit Free Press. Contact Jamie at jlareau@freepress.com. Follow her on Twitter @jlareauan. To sign up for our automotive newsletter. become a subscriber.
