Here we go, with used EVs becoming a thing. Up until now, electric vehicles had a little bit less volume in the used car market. Now that new electric vehicle sales have passed 10 percent of new car sales, they’re starting to see used EVs becoming a more popular search.

Factors Driving the Surge in Demand
Part of it is because prices are starting to come down. There’s more availability, and there’s more volume of used electric vehicles in the marketplace. So the price point is starting to reduce to where people who want to buy an electric vehicle or look at it for a new car really are 50 to 60 Grand. However, there’s a lack of good electric vehicles in that price range.

Limited Options for Budget Electric Vehicles
Yeah, you have the Maverick truck and a couple of other examples, like Chevrolet’s product, which’s around 20 something thousand. Still, the vast majority of electric vehicles that people want are 50 Grand plus. Used EVs have always been something to look at; the problem is that there weren’t a lot of them around, and the ones that were around were pretty expensive.

Changing Landscape and Market Openings
The market is starting to open up, and finding an electric vehicle in the used car market is now more possible. This article talks about that. In fact, it’s likely that the percentage of sales of electric vehicles in the used car market will increase faster than in the new car market. This is because older used cars that are gasoline-powered will start to become less and less desirable.

The Future of Electric Vehicle Sales
As time rolls out, older gasoline cars will be replaced by electric vehicles, especially since the charging networks are going to be more robust. So, if you’re looking for an electric vehicle but thought you could only buy a new car, check out your dealer to see what they have in used inventory for EVs. See if there’s something there that might be of interest, so you don’t have to spend $60,000 for a new one.