‘Doesn’t make sense to hold on to a combustion engine’: used EV prices rise as Australia’s fuel crisis hits

As used EV prices rise in Australia as the fuel crisis hits, the price of secondhand Tesla Model Y electric vehicles rose more than 6% in the last two weeks of March. Photograph: Mike Blake/Reuters

When a used vehicle rolls into a car yard, the usual trajectory for its price tag is down if it lingers too long.

That is the (almost) iron law of the secondhand market – until the oil crisis hit and dealers started raising asking prices for used electric vehicles.