New electric cars are grabbing all the headlines, but Americans buy far more used cars than new cars. When will sales of used electric vehicles pick up?
They already have.
A new analysis from Kelley Blue Book parent company Cox Automotive shows that used EV sales grew by 32% in the first three months of 2023. It’s likely just the start of an accelerating trend.
“Every new vehicle eventually becomes a used vehicle,” says Cox Automotive chief economist Jonathan Smoke. “Our data sets indicate used EV sales will begin increasing rapidly from here, following a clear path set by new sales.”
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