Fuel Price Surge Fuels 50% Jump in Used Electric Car Demand
Translated & summarized from Walla by baba
Demand for used electric cars in Israel has surged by over 50% this year, driven by rising gasoline prices and increased online interest. Used EV ads now receive significantly more views than average, and prices are becoming competitive with gasoline cars. Buyers are advised to check charging availability and battery health, with popular models including the Tesla Model 3 and BYD Atto 3.
The story in 5 lines · by baba
- Used electric car demand in Israel has surged by over 50% due to high fuel prices.
- Interest in used EVs has grown, with ad views increasing by approximately 54% year-over-year.
- Used electric SUVs are now priced nearly the same as comparable gasoline models.
- Home charging costs are significantly lower than public charging, saving consumers money.
- Tesla Model 3 and BYD Atto 3 are among the most popular used electric car models.
Soaring gasoline prices, exacerbated by geopolitical tensions, are driving a significant increase in demand for used electric vehicles (EVs) in Israel. Data from the car marketplace Yad2 reveals a more than 50% surge in interest in used EVs since the beginning of the year. This trend is reflected in a rise in the share of used EV ad views among all vehicle ad views, from 5.1% last year to 7.8% this year, a relative increase of about 54%.
This heightened demand is occurring despite challenges such as a shortage of charging stations and significant price disparities between public and home charging, as noted in a recent Knesset Research Center report. However, these issues are not deterring potential buyers, especially those who can charge at home or work. Shani Raabed, Head of the Vehicle Division at Yad2, highlighted that used EV ads now receive 124% more views than the average ad, a substantial increase from last year when they received only 86% of average views.
The used EV market is also seeing price adjustments. While two years ago used EVs were more expensive than their gasoline counterparts due to high demand and limited supply, the trend has reversed. Currently, a three-year-old mid-size electric SUV is priced almost identically to a comparable gasoline vehicle, a stark contrast to last year when the electric model was 4% more expensive.
Buyers are advised to ensure they have access to affordable, consistent charging at home or work and to calculate potential energy cost savings. Home charging costs around 0.65 NIS per kWh, significantly less than public charging, which can range from 1.2 to 2.8 NIS per kWh, especially at fast-charging stations. Potential buyers should also request a recent battery health check and maintenance records to ensure the vehicle's warranty remains valid.
The most sought-after used EV models include the Tesla Model 3, BYD Atto 3, and Geely Geometry C. Other popular models with notable demand include the Tesla Model Y, Hyundai Ioniq 5, Xpeng G6, Skoda Enyaq, MG ZS EV, MG4, and Hyundai Kona EV. More affordable options like the MG ZS EV and Hyundai Kona Electric are attracting buyers despite shorter ranges, with prices dropping below 80,000 NIS for some models.
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.
