Why Toyota RAV4s suddenly most coveted used cars in U.S.

Toyota’s RAV4 hybrids have become highly coveted in the used-car market due to efficiency and limited supply. The hybrid version delivers over 40 mpg, well above the U.S. new-car average of 27.2 mpg, and Toyota has discontinued all nonhybrid RAV4s this model year. Brandon Wingate paid $32,000 in February for a 2024 RAV4 with 44,000 miles, after driving it across the state; the dealer allowed a $500 concession for a window crack. He notes that prices for the same vehicle have risen by roughly $6,000 to $8,000 since then.

Used-hybrid premiums are evident in current listings: Carvana shows a 2025 RAV4 Hybrid Limited with 5,606 miles for $48,590, about $6,040 above its original MSRP, while a 2026 Limited lists for $43,300. Toyota's Cooper Ericksen says output of all-hybrid RAV4s will ramp up, which should ease pricing as volumes grow. The shortage fueling higher prices is attributed to demand and production shifts, affecting the broader compact-SUV segment.