New EV Sales Are Tanking, But There's Massive Demand For Used Models
New electric vehicle sales in the US have declined by 28% year over year, with around 213,000 units sold in Q1. However, used EV sales have increased by almost 12% from Q1 2025, indicating that demand is still present but new EV prices are hard to justify without tax credits.
New electric vehicle sales have taken a dive, down 28% year over year. Used EV sales are up by almost 12%. The average cost of a used EV is under $25,000, while new EVs average $55,300. Many drivers opt for used EVs due to the significant price difference. Long-range models are driving interest in used EVs, especially with record-high gas prices.
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