More used electric cars are coming at more affordable prices
AI-summarised brief · reviewed before publication
Electric vehicle sales have slumped since federal tax credits ended, but a wave of slightly used models will hit the market over the next three years. Leases on 300,000 2- and 3-year-old electric vehicles will expire this year, followed by 600,000 in 2027 and nearly 660,000 in 2028, offering consumers affordable options. These used vehicles will increase consideration for EVs among used-car shoppers due to their better value proposition.
💡 Why It Matters
- · Higher gas prices are driving demand for affordable electric vehicles, and the influx of used EVs is poised to capitalize on this trend.
- · The used EV market will also likely boost sales and leases of new electric vehicles as former leaseholders seek new rides.