Gas prices aren’t the only factor fueling used EV sales
TechCrunch·2h ago·Neutral
What Happened
Used electric vehicle sales rose 12% in the first quarter compared to last year, driven by expiring leases and lower prices. Hundreds of thousands of pre-owned EVs entered the marketplace as early 2020s leases expired. Gas prices above $4 per gallon also spurred interest. Used EV prices averaged $34,821, near parity with gas vehicles at $33,487. By year-end, EVs will represent 15% of all off-lease vehicles, up from 7.7% in Q1.
Key Entities
Cox AutomotiveUsed EV salesTrump administrationFinancial TimesEV leasesGas prices