Used EV Sales Hit Record as 37,000 Sell in Q1

Electric vehicles just became way more accessible for everyday buyers, and the numbers prove it.

Cox Automotive reports that used EV sales hit an all-time high in the first quarter of 2025, with nearly 37,000 vehicles sold through Manheim, the country's largest wholesale auto marketplace. More than 100,000 used EVs found new homes at retail dealers during the same period, making it the second-strongest quarter ever recorded.

The momentum is building fast. Wholesale used EV sales jumped 12% compared to last year and rose 17% from the previous quarter. Prices stayed stable through March, following the usual spring bump that comes with warmer weather and tax refund season.

Rising gas prices likely pushed more shoppers toward electric options. Dealers responded by stocking more used EVs, which typically cost thousands less than new models while delivering the same zero-emission benefits.

The real game changer is coming from an unexpected source. A wave of off-lease electric vehicles originally purchased during the Biden administration is now cycling back into the market. Those early buyers benefited from the $7,500 federal tax credit, and now their three-year leases are ending.

Many lessees are choosing not to buy their vehicles outright when the lease ends, especially if the buyout price exceeds the car's current market value. That decision is pushing more inventory into auctions and onto dealer lots across the country.

The Ripple Effect

This surge in used EV availability creates opportunities that ripple through communities in powerful ways. Families who couldn't afford a $50,000 new electric car can now find quality used options for half that price. Lower-income drivers who spend a larger portion of their budget on gas can switch to charging at home for a fraction of the cost.

The timing couldn't be better for the planet either. Every used EV that replaces a gas-powered car means cleaner air in neighborhoods and fewer emissions heating the atmosphere. And because these vehicles were already manufactured, buyers get all the environmental benefits without the carbon footprint of new production.

Experian projects that EVs will make up 15% of all off-lease vehicles by the end of 2026, nearly double the current 7.7%. That means thousands more affordable electric vehicles will hit the market in the coming months, making clean transportation accessible to people who never thought they could afford it.

The democratization of electric vehicles is happening now, one used car sale at a time.