As Used-Car Prices Have Hit Wall amid Signs of Buyers’ Strike, Used EV Prices Spike amid Huge Demand and Little Supply | Wolf Street

So the mind-boggling used-vehicle price spike ended in January. But the influx of used vehicle from rental fleets into the used vehicle market – usually 2-3 million vehicles per year – continues to be constrained as rental fleets are having trouble getting new vehicles in sufficient quantity due to the ongoing production shortfalls by automakers. And they’re hanging on to their vehicles longer.

Inventory in used vehicles is adequate for the lower sales levels. And sales are down because buyers are balking at the still crazy-high prices, but dealers don’t want to cut their prices to boost sales because they’re facing limited supply. So the market is hobbling along with still sky-high prices, lower sales, frustrated potential buyers, and tight inventories.

Biggest year-over-year price spike: Nissan Leaf, which not too long ago was a dud in the used vehicle market. But the price took off, likely due to its relatively low price and “the heightened desirability for the redesigned 2018 model that offers increased range and is now coming off lease to enter the used car market,” according to the report. The average price jumped by 45%, or by $8,930, to $28,787.

As Used-Car Prices Have Hit Wall amid Signs of Buyers’ Strike, Used EV Prices Spike amid Huge Demand and Little Supply | Wolf Street

It is simple supply versus demand. The largest Nissan Leaf dealer in Washington had ZERO new or used EV’s available the last time AGR checked recently. They usually have HUNDREDS available.

Limited or no supply means the price of any existing EV’s goes up drastically.