Used EV Prices Surge 12% as Iran War and Gas Costs Bite
Wholesale used electric vehicle prices jumped 12% in June 2025, driven by Iran conflict fears and elevated gasoline prices pushing buyers toward EVs.
Used electric vehicle prices are climbing sharply, with the Manheim Used Vehicle Value Index for EVs — which tracks wholesale auction prices across the United States — posting a 12% increase compared to June 2025, according to data from the widely watched industry benchmark.
The spike reflects mounting pressure from two converging forces: anxiety over the Iran conflict stoking fuel supply uncertainty, and persistently high gasoline prices that are steering cost-conscious consumers toward the used EV market as an alternative to expensive fill-ups at the pump.
Read more Oil Prices Climb as U.S. Strikes on Iran Stoke Supply Fears →
The surge in wholesale prices is significant because Manheim's index is considered a leading indicator for the broader used-vehicle retail market. When auction prices rise, dealerships typically pass those higher acquisition costs on to retail buyers within weeks, meaning consumers shopping for a pre-owned EV could soon face steeper sticker prices than they anticipated.
The dynamic illustrates how geopolitical instability and energy market volatility can ripple directly into everyday consumer decisions. Demand for used EVs tends to accelerate when gasoline prices remain elevated for sustained periods, and ongoing tensions in the Middle East have kept fuel markets on edge, amplifying that trend.
For buyers weighing the switch to an electric vehicle, the window for finding a relative bargain in the used market appears to be narrowing quickly. Continue reading at US Top News and Analysis.
