Used EV Surge May Lower Prices Soon
April 25, 2026 at 18:25
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✦ AI Summary
- An increase in used electric vehicles could make them more affordable
- Leased EVs set to flood the market in the coming years
- Around one million used EVs will be available by 2028
Electric vehicle prices have been a barrier for potential buyers, but the surge of used cars on the market may soon change that. According to forecasts from Cox Automotive, leases on EVs are expected to more than double, jumping from 123,000 in 2025 to 660,000 by 2028.
As the majority of these leased vehicles transition to the used market, over a million used EVs could become available, significantly improving accessibility for consumers. With 76 percent of cars sold in the US being used, this influx is expected to reshape the market landscape dramatically.
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