Wholesale Used EV, Hybrid Values Rising Amid Record Gas Prices

InnovationTransportationWholesale Used EV, Hybrid Values Rising Amid Record Gas PricesByEd Garsten,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Ed Garsten is a metro Detroit-based reporter who covers autos/mobilityFollow AuthorApr 28, 2026, 03:24pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Electric Chevrolet Equinox SUVs on dealer lot in suburban Detroit. Ed GarstenThe average price of gasoline in the U.S. hit a four-year high of $4.18 a gallon on Monday, only days after it retreated to $4.03, according to the Triple A. Until the war in the Middle East broke out at the end of February, the price of gas hadn’t breeched $4.00 since 2022, a bitter pill for drivers of gas-powered vehicles to swallow as they watched cost of a fill up thin their wallets. With no estimate as to when the conflict will end or how soon gas prices would abate after a truce, many consumers who previously rejected buying a new battery electric or hybrid vehicle because of price, are suddenly taking a second look for more affordable models at used car lots.They may be disappointed, however, as the law of supply and demand is sending the prices higher that dealers pay for electrified vehicles on the wholesale markets, as much as a 5%-10% “meaningful change” according to John Coles, vice president of data science & analytics at online wholesaler ACV Auctions.Such a boost in wholesale values is normal for this time of year for used gasoline and diesel vehicles as the market enters the spring selling season and tax refunds are arriving, according to Coles. MORE FOR YOUFor EV’s, however, the boost in wholesale prices is anomaly.“EVs, given the large volume of lease returns the end of the tax credit last August, the large volume of lease returns coming into 2026, we were expecting the trend to pretty meaningfully pull down wholesale prices, and we did see that in January and F...