Electric Affordability Hits the Used Market
Used electric vehicles are making headlines for all the right reasons. Over the past three years, average prices for pre-owned EVs have dropped more than 40%, opening the door for more buyers to make the switch. This price drop significantly outpaces the 12% decline seen in gas and hybrid vehicles during the same period.
As prices fall, interest is rising. Searches for electric vehicles on major automotive platforms have nearly doubled since 2022. Buyers are not just window shopping either—sales data confirms EVs are gaining serious traction.
Pickup Trucks Make an Entrance
Two electric pickups—the Ford F-150 Lightning and the Rivian R1T—have entered the top ten most popular used EVs in the U.S., a first for the category. This shift suggests that larger EVs, once rare in the used market, are now entering circulation and appealing to a broader audience.
Meanwhile, sedans and coupes have overtaken SUVs as the most traded-in body styles for EVs, reflecting a trend toward more compact and efficient designs.
Regional Leaders in EV Adoption
While California has long led the charge in EV sales, Oregon recently overtook it in terms of EVs sold as a percentage of total used vehicle sales. States like Utah, New Mexico, and Minnesota are also climbing the ranks, signaling a more balanced national adoption of electric vehicles.
Changing the EV Narrative
As new models enter the used market and prices become more competitive, electric vehicles are transitioning from early adopter status to mainstream consideration. This trend is fueled by growing availability, better tech, and stronger resale value.
Whether it’s for environmental impact or long-term savings, more Americans are discovering that their next car may not run on gas—and it might just be electric.
