New EV Sales Are Tanking, But There's Massive Demand For Used Models
This image was generated by AI and may not depict real events.
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.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.