Used electric vehicle sales are climbing quickly in the United States. A flood of cars bought during the pandemic’s EV boom is now hitting the secondhand market. This is giving buyers a cheaper way to switch to electric as fuel prices spike. The trend reflects a shift in the market caused by older leased EVs becoming available again.

Surge in Used EV Sales and Market Factors

In the first quarter of this year, used EV sales increased by about 12 percent compared to the same period last year. They also rose 17 percent from the previous quarter. Experts from Cox Automotive estimate these numbers. Meanwhile, new EV sales have dropped sharply—by roughly 28 percent year over year. The decline follows the Trump administration’s decision in 2025 to end a $7,500 consumer tax credit for new EVs.

Many of these used EVs come from early 2020s leases. During that time, automakers offered attractive lease deals, leading many consumers to switch to electric cars. Now, as lease terms expire, hundreds of thousands of these vehicles are returning to the market at lower prices. This supply increase makes used EVs a more affordable option for buyers looking to go electric without paying new car prices.

Market Outlook and Future Trends

According to credit bureau Experian, electric vehicles will make up about 15 percent of all off-lease vehicles by the end of this year. That’s more than double the 7.7 percent seen in the first quarter. This rising share indicates that more used EVs will likely continue entering the market in the coming months.

The growing availability of affordable used EVs comes at a time when gas prices are rising sharply. This makes electric cars more attractive for cost-conscious consumers. As more people look for budget-friendly ways to reduce fuel costs, the used EV market could see further growth.

Overall, the combination of increased used EV supply and rising fuel prices is reshaping the landscape for electric vehicle adoption. Buyers now have more options and better prices, which could accelerate the transition to electric cars in the US. Experts say this trend might continue as more lease vehicles return and as new policies influence the EV market.

Inspired by

• https://arstechnica.com/cars/2026/04/used-ev-sales-spike-alongside-gas-prices/

Sources

• ft.com
• ft.com