The used electric vehicle market in the US continues to grow amid the Biden Administration’s strong support for the shift to e-mobility.
Unsurprising, market leader Tesla’s popular Model 3 electric sedan successfully defended its dominant position in this particular segment in 2023 followed by its sibling Tesla Model Y crossover. Without further ado, this article will outline iSeeCars’ top 10 most popular used EV models in the US last year.
Rankings (2023 vs. 2022)
Tesla’s two best-selling offerings, the Model 3 and Model Y, secured the top two spots in 2023 as they did in 2022. However, the Model S and X lost their third and fourth spots in the recent rankings amid the US customers’ growing preference for cheaper used EVs.
The Tesla Model 3 dominated the rankings with a 34.9% share of the total used EV sales last year, including 1 to 5-year-old units. The Tesla Model Y followed with a share of 11.9%. The top 10 were completed by non-Tesla models, indicating the absence of the Model S and X primarily due to their high prices. Refer to the table below:
| 2023 rank | Model | 2023 % of used EV sales | 2022 rank | 2022 % of used EV sales |
| 1 | Tesla Model 3 | 34.9% | 1 | 40% |
| 2 | Tesla Model Y | 11.9% | 2 | 10.3% |
| 3 | Chevy Bolt EV | 6.9% | 6 | 6.2% |
| 4 | Nissan LEAF | 6.2% | 5 | 6.7% |
| 5 | Tesla Model S | 5.6% | 3 | 9.8% |
| 6 | Tesla Model X | 5.5% | 4 | 7.7% |
| 7 | Ford Mustang Mach-E | 4.6% | 7 | 3.7% |
| 8 | Audi E-Tron | 2.9% | 8 | 2.7% |
| 9 | Porsche Taycan | 2.4% | 9 | 2.4% |
| 10 | Volkswagen ID.4 | 2.2% | 10 | 1.7% |
It is also worth noting that two of the cheapest EV models in the US market are due to retire to give way for their next-gen model versions. GM already halted the Bolt EV’s production at the end of 2023 as it aims to launch a next-gen model in 2025. Meanwhile, Nissan Leaf’s next-gen model will arrive as early as next year.
Methodology
iSeeCars, the Massachusetts-based online automotive search engine, and research website, evaluated more than 9.2 million used car sales over the previous five model years (2018 – 2022) in 2023.
It calculated every model’s share of used car sales nationwide, including metro areas and states. Notably, it excluded heavy-duty vehicles from the evaluation.
Potential growth
The US electric vehicle sales are reportedly expected to hit a notable share of 8% in overall automotive sales, according to Electrek.
In addition, Cox Automotive projects this rate to grow to approximately 10% in 2024 due to “more electric vehicle models available, more incentives, more discounts, more advertising, and greater sales efforts.”
The American auto businesses project the used EV market to advance as the fastest-growing wholesale/used vehicle market segment. In fact, numerous electric automakers reported record sales in 2023 due to growing demand.
For instance, Tesla successfully achieved its self-set target of more than 1.8 million EVs in 2023. Meanwhile, Ford emerged as the second most popular EV brand in the US market with 72,608 sales. The F-150 Lightning advanced as the best-selling e-truck, while the Mustang Mach-E snatched the second spot in the best-selling e-SUV sales rankings.
All that said, there will undoubtedly be more available used EV options this year amid the growing sales of battery-powered and plug-in hybrid models in the US market. As noted by iSeeCars’ Executive Analyst, Tesla’s most costly EVs “are likely to continue dropping” without significant updates.
Therefore, it is unsurprising that Tesla is revamping the Model 3 sedan. Previous reports suggest that the updated Tesla Model 3 has been spied testing in the US, indicating an imminent market launch. Its potential arrival in the country will significantly boost used Tesla Model 3 sales further this new year.
