Used EV sales rose by a third in the first quarter of this year, with average retail prices dropping and remaining well below the price of new electric vehicles, even as Americans remain hesitant to adopt electric cars.
The sale of EVs through a licensed dealership rose 32 percent year-over-year in Q1 to 42,753 units, according to an April 7 press release by automotive technology provider Cox Automotive. The sale of used EVs in Q1, 2023, was twice the volume of what was sold in Q1, 2021. The average retail listing price for a used EV in the first quarter of 2023 dropped by 4 percent to $43,400 from a year back. It was also well below the average of a new EV priced at nearly $59,000.
