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Electric Vehicle Sales Slump, Used Market Booms

Published 2 days, 23 hours ago
Description

New electric vehicle sales plummeted in Q1 due to tax credit cuts, but used EVs surged by 12% YoY and 17% QoQ. Rising gas prices and lease expirations flooded the market, driving used EV prices down to near gas car levels. By years end, EVs are expected to account for 15% of off-lease vehicles, keeping the used market thriving.

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