Used-EV prices are crashing as buyers shift back towards hybrid vehicles

• Used EVs now cost less than their gas counterparts, with the gap ballooning since February.
• Only 18% of consumers said they're likely to buy an EV, a multi-year low.
• The demand pullback has "wreaked havoc" on production, a new report said.

Consumers are pumping the brakes on electric-vehicle demand as technological limitations erase the premium buyers used to be willing to pay.

For the first time, used EVs are less expensive than their traditional gas counterparts. Not only are prices lower, they're also plummeting at a much steeper clip, a recent report from iSeeCars said.

According to the study, the average used EV fell $265 below the typical gas car in February, marking the trend's start. As of May, that difference has ballooned to $2,657.