Used EV sales surge as gas prices climb

Sales of used electric vehicles in the US are experiencing a significant increase, driven by rising gasoline prices and a surplus of pre-owned models returning from leases. This surge offers consumers more affordable alternatives to new cars, which have seen sales decline partly due to the expiration of federal tax credits. The average price of a used EV has dropped considerably, narrowing the gap with gasoline-powered vehicles. Analysts suggest this trend could serve as a gateway for broader EV adoption, despite ongoing concerns about charging infrastructure and long-distance travel.