An influx of used EVs could drive down prices

Source: The Verge

Upcoming Surge in Used EVs

Part of what has held back electric cars has been the cost. However, an influx of used vehicles over the next three years could bring prices down dramatically.

Lease Expirations and Market Impact

• 2025: 123,000 EV leases are expected to expire.
• 2026: Projected to more than double to 300,000.
• 2027: Expected to double again to 600,000.
• 2028: Anticipated to reach 660,000.

Most leased vehicles end up entering the used market, meaning more than a million used EVs could become available over the next few years, making them far more accessible.

Used‑Car Market Context

The vast majority of cars sold in the US are used—about 76 percent as of 2024, according to Consumer Affairs.

Read the full story at The Verge