With all-electric vehicles depreciating at a rapid rate lately, it certainly makes a lot of sense to shop the used market – and potentially save a ton of money while letting someone else pay for that depreciation. That’s precisely the case with the Ford Mustang Mach-E as well, as that EV crossover has long been recognized as a tremendous used value, and it has also made the cut as one of the most popular used EVs on the market, as well as a hot commodity among CarMax shoppers. Now, the Ford Mustang Mach-E is once again being highlighted by another used vehicle seller.
That seller is Carvana, which just released its latest EV Trends Report for Q3 2024. While Tesla retained its title as the most-searched EV brand in the third quarter of the year – and the Model 3 ranked first among all individual models – others are starting to make inroads as more and more EVs hit the market. Regardless, in Q3, the Ford Mustang Mach-E ranked as the second most-searched EV, followed by the Hyundai Ioniq 5, Kia EV6, and Nissan Leaf.
As for the overall electric vehicle market, EV page views at Carvana also grew by a significant 226 percent. The most searched-for features included third-row seating, heated steering wheels, Apple CarPlay, a sunroof, and adaptive cruise control. This was a bit different than the most searched-for features for ICE shoppers, who leaned toward things like a rear-view camera, third-row seating, a sunroof, heated seats, and a tow hitch. Carvana notes that EV shoppers are more interested in luxurious features overall, as well as models that can fit the whole family.
When compared to ICE vehicles, EV shoppers also tend to prefer newer models with fewer miles. Most EV shoppers searched for models between the 2020-2023 model year, on average, compared to 2018-2023 for ICE shoppers. EV shoppers also looked mostly for vehicles with 12,500-40,000 miles, compared to 32,000-56,000 for ICE, and were also willing to spend at an average price range of $19k-31k versus $18k-$37k.
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