Mazda hybrid sports car, Lexus EV concepts, used EV prices drop: Today’s Car News

Prices on used EVs have dropped enough to counter soaring finance rates and boost affordability. Mazda looks to its rotary heritage for a series-hybrid sports car concept. And Lexus previews EVs and some standout tech in Tokyo concepts. This and more, here at Green Car Reports. 

The Lexus LF-ZL concept is a long and relatively low SUV built with three large “gigacastings,” a new generation of prismatic lithium-ion battery cells with higher energy density, bidirectional charging and V2G connectivity, and a next-gen operating system. There’s a sleek LF-LC hatchback as well that follows the same design themes and gets the brand’s steer-by-wire system.

While most other Japanese automakers at their home Tokyo auto show revealed fully electric concept cars, Mazda revealed the Iconic SP hybrid sports car concept—building on the Wankel rotary engine as the foundation for a series hybrid system. The automaker also suggests it could be a plug-in hybrid with the capability to supply backup power.

And according to several new market reports, prices are dropping on used EVs, including Tesla models, because of an uptick in the sheer volume of EVs on the market. The Tesla Model 3 has fallen $9,000 in value on the used market since 2021, and prices on used EVs overall have fallen nearly 20% in just the past 11 months—enough to still yield an improvement in affordability despite higher finance rates. 

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