The expiration of a federal tax credit for new electric vehicles (EVs) has led to a sharp decline in sales of new EVs, but it has been a boon to the used-EV market.
Used electric vehicles that are at least 3 years old sold faster than any other type of powertrain in the third quarter, automobile research and pricing platform Edmunds stated 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).
