Luxury SUVs' prices rise while electric vehicles drop

Prices for used cars are showing mixed trends, according to recent data. Overall, used car prices are stabilizing, with a small average decrease of 0.8% to $31,257. However, certain models, particularly luxury SUVs, are seeing significant price increases. The Infiniti QX60 leads the price surge with a 17.1% rise, reaching an average price of $36,551. Other luxury models are also trending upward, while electric vehicle prices are plummeting, down 15.1%, with Tesla cars experiencing the largest drop at 13.6%. Experts suggest that upcoming tariffs on new cars could shift buyer interest back to the used market, potentially driving prices up again. iSeeCars Executive Analyst Karl Brauer noted that prices for one-to-five-year-old used cars are unlikely to fall in 2025. The list of used cars with the biggest price increases includes several luxury models, with two Porsche sports cars making the top rankings. The most affordable model on the list is the Chevrolet Trax, which has seen a 9.8% price increase. For those looking to save money, experts recommend considering older or lower-cost used cars instead of newer models, especially as prices for many vehicles, apart from electric ones, remain high.