As gas prices continue to soar, a surprising trend is emerging in the electric vehicle (EV) market. Despite a recent decline in demand for new EVs, sales of used EVs are experiencing a significant surge, with many consumers turning to pre-owned models as a more affordable alternative to brand-new vehicles. According to industry analysts, the rising cost of gasoline is driving this shift, as owners of existing EVs are choosing to hold onto their cars while prospective buyers opt for certified pre-owned or used EVs instead of shelling out for a brand-new model. This trend has significant implications for the automotive industry, with implications for sales, market share, and the overall adoption of electric vehicles.
Used EV sales charge up on high gas prices, even as new EV demand declines Los Angeles Times
