The expiration of a federal tax credit for new electric vehicles led to a sharp decline in sales of new EVs, but it’s been a boon to the used-EV market.
Used electric vehicles at least three years old sold faster than any other type of powertrain in the third quarter, automobile research and pricing platform Edmunds said on Nov. 11 in its quarterly used vehicle market report. Fully electric vehicles turned over at an average of 34 days, beating out hybrid-electric models (40 days), diesel-powered trucks and cars (41 days), and traditional gasoline-powered automobiles (43 days).
