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Ford F-150 Top Vehicle Traded In To CarMax For EV

In its recently-released Spring 2024 Electric Vehicle Consumer Report, used vehicle seller CarMax outlined some particularly interesting information that sheds quite a bit of light on what types of consumers are trading in their vehicles for EVs – at least, to that particular company. Ultimately, the study found that Ford branded vehicles, in general, were the second most popular trade-in for shoppers looking to procure an all-electric vehicle, while the Ford Mustang Mach-E ranked as the fifth most popular used EV among CarMax shoppers, behind only the Tesla Model 3, Tesla Model Y, Nissan Leaf, and Volkswagen ID.4. However, interestingly, the Ford F-150 was also the top vehicle traded in to that same place for customers looking to acquire an EV as well.

The Ford F-150 actually tied with the Honda Accord as the as the number one traded-in model for an EV at CarMax, followed by the Honda Civic, Toyota Prius, and Tesla Model 3. The company notes that trucks continue to be popular trade-ins, as the Toyota Tacoma actually ranked first in that regard as part of last year’s study, too.

In any event, pricing has played a large role in these trends, as the average prices for the top ten most popular EVs at CarMax now range from $22,000 to $46,000 – down from $22,000 to $72,000 in 2023 – a change that occurred as many luxury models dropped off this year’s list as consumers continue to seek out value propositions.

At the same time, CarMax notes that there’s been a steady rise in interest for EVs since 2021, as monthly searches at the company’s site have nearly tripled – increasing by 177 percent – over the past few years. The biggest jump occurred between February and March 2022, which coincided with a rise in average U.S. gas prices from $3.54 per gallon to $4.20 per gallon following the onset of conflict in Ukraine, proving that such macroeconomic events can sway even the types of vehicles consumers seek out.

We’ll have more insights like this to share soon, so be sure and subscribe to Ford Authority for the latest Ford F-Series newsFord F-150 news, and continuous Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. KK

    proves how many people don’t need a truck to start with – they don’t do truck things!

    Reply
    1. Dwayne D

      Weather they need them or not makes no difference. We are a free country. We can do what we want . What do you care?

      Reply
  2. Dwayne D

    Higher gas prices have nothing to do with the war in Ukraine. It’s totally due to biden’s policies on fossil fuels. He used up alot of the strategic fuel supply to keep prices artificially lower. Now it’s coming home to roost.

    Reply

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