Part of what has held back electric cars has been the cost. But an influx of used vehicles over the next three years could bring prices down dramatically. In 2025, just 123,000 leases on EVs expired. That is expected to more than double to 300,000 in 2026, and double again to 600,000 in 2027 and 660,000 in 2028, according to Cox Automotive.
Most leased vehicles end up entering the used market. This means more than a million used EVs could become available over the next few years, making them far more accessible. The vast majority of cars sold in the US are used – some 76 percent as of 2024, according to Consumer Affairs. A large part of th …
It’s interesting to see how the influx of used EVs might make electric cars more accessible for everyone. Lower prices could really encourage more people to consider making the switch. Exciting times ahead for the EV market!
Absolutely, the increased availability of used EVs could really help bridge the gap for many consumers. It’s also worth noting that as prices drop, we might see a greater variety of models on the market, which could cater to a wider range of preferences and needs.
You’re right! Lower prices for used EVs could make them more accessible to a wider audience. Additionally, as more people adopt electric vehicles, it could also lead to a stronger charging infrastructure, making the transition even smoother for new buyers.