Used-vehicle prices are up just 0.2% this month, a $40 increase, according to Carfax.

On the surface, that may seem steady.

However, there are some basic economic drivers at play that are balancing out the market, Carfax says in analysis around its monthly index, and that could have implications for both dealers and consumers.

Especially as it pertains to electric vehicles and hybrids.

“It’s a basic rule of economics: When supply is up and demand is down, prices fall. When demand is up and supplies are short, prices rise,” Carfax editor-in-chief Patrick Olsen writes in the analysis. “We can see that at work in this month’s Carfax Used Car Index.”

For instance, used prices on hybrids and EVs fell 0.8% from August to September, while prices on car segments like sedans, hatchbacks and wagons climbed 1.1% and luxury car prices were up 0.8%.

“Now, one might think that there’s higher demand for those vehicles with these gas prices, but this is a case where the supply is outstripping demand,” Olsen said, referring to EVs and hybrids.

“There are a lot of EVs coming onto the used market off of leases, and that’s helping keep their prices lower, even as drivers are looking for better fuel economy,” he said. “On the flip side, demand for used cars (sedans, hatchbacks, wagons, etc.) and used luxury cars resulted in their average price increasing as some shoppers looked for vehicles that are more fuel-efficient than SUVs or pickup trucks.”

As for those segments, pickups were down 0.6% month-over-month, SUV prices increased 0.2% from August and luxury SUVs were up 0.1%, according to Carfax.

Van prices climbed 0.9%, the data shows.

On a year-over-year basis, all the segments in the index’s data set were up in price.

SUV prices climbed 3.5%, cars were up 8.5%, pickups were up 3.5% and luxury SUVs jumped 5.7% from September 2025.

There was a 9.7% increase for luxury cars, a 6.5% increase for hybrids/EVs and a whopping 12.8% jump in used van prices.