The Financial Times reports U.S. used electric vehicle (EV) sales rose 17% quarter‑on‑quarter and 12% year‑on‑year in Q1 2026 while new EV sales fell 28% year‑on‑year.
The Financial Times and analysts point to rising gas prices and weak EV resale values: average used EV prices fell 8.5% and the gap versus used internal combustion engine (ICE) cars narrowed from $4,923 to $1,334.
Experian expects off‑lease EVs to rise from 7.7% to 15% of U.S. supply by year‑end, a shift that could increase used EV availability and pressure lessors while offering cheaper options for buyers.
The Financial Times also links the new EV sales decline to the end of the federal EV tax credit and notes some EV leases undercut ICE deals, citing a Chevrolet Blazer EV at $515/month versus $586 for the ICE model; Jessica Caldwell, Edmunds' head of insights, said buyers checking cheap off‑lease EVs find more appealing choices than they did after Russia's invasion of Ukraine.
This report is based on information originally published by Jalopnik.
Read the full article at Jalopnik.
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