Used Electric Cars Surge: Sales Outpace New EVs in 2023's First Half

Used Electric Cars Surge: Sales Outpace New EVs in 2023’s First Half

Affordability and Increasing Availability Fuel the Boom

Examining other new EVs sold in the first half of 2023, the Chevrolet Bolt comes in next with 33,659 units, followed by the Rivian R1T at 16,452 units and the Volkswagen ID.4 at 16,448 units. In essence, Tesla continues to dominate both the new and used EV markets in the U.S.

Recurrent’s analysis of the situation underscores the shift in the automotive landscape: “Used EV sales, as a segment, now dwarf the sales of every new EV model besides Tesla Model Y and 3.” Moreover, it highlights that “the used EV market is more affordable than at any time in the past 2.5 years, while the mix of vehicles favors newer, longer-range models than ever before.”