Declines in new car prices are pushing down used electric vehicle prices, too. They have fallen 17 percent since July, according to Recurrent, which tracks the used car market. That’s largely because Tesla cut the price of the Model 3 and G.M. lowered the price of the Chevrolet Bolt by almost $6,000 last year. Under the Inflation Reduction Act, used cars can also qualify for a tax credit of up to $4,000. That is important because most people buy used vehicles.Falling prices for materials like lithium and cobalt have also helped. …
