The used car market is witnessing a pronounced decline in the resale prices of electric vehicles (EVs) relative to gas-powered cars, a shift reflecting changing consumer perceptions and demand dynamics. According to a recent report, the average price of EVs plummeted by 29.5% from May 2023 to 2024, a stark comparison to the modest 6.1% fall in prices for combustion engine vehicles during the same period. Notable examples highlighted the disparity, such as how a Tesla Model 3 dropped significantly below a BMW 3 Series in price by 2024. This trend underscores a notable consumer hesitancy towards EVs, partially driven by concerns over costs, limited infrastructure, and range anxiety, paving the way for increased interest in hybrid models that merge gas and electric propulsion systems.