Used EV Sales Jumped 17% as Cheap Inventory and Gas Prices Converge
For years, the pitch for going electric was a government rebate and a clean conscience, but it wasn’t enough. Then, filling up a gas tank started costing $200, as a flood of off-lease EVs piled up on dealer lots — some even at half their original price. Now, mainstream buyers who never planned to go electric are lining up.
- Close to 40% of used EVs on dealer lots are priced below $25K, with 1.2M more expected to hit over the next 18 months — many still under factory warranty.
- Selection on used EV lots has tripled to 120+ models since 2022 — moving well beyond sedans into trucks, three-row SUVs, and affordable crossovers.
Second act: Interestingly, used EV sales climbed 17% through early 2026 as new EV deliveries fell 27%, confirming that price was always the real barrier. The average used EV now lists within $1K of a comparable gas model, and in the compact SUV segment, the monthly payment gap has nearly disappeared. As the used-car renaissance quietly introduces buyers to electric driving, automakers including Ford, GM, Hyundai, Tesla, and Honda stand to benefit. But with supply expected to stay elevated for roughly two years, the math won’t last forever.
