Used EVs just hit a sales record - a much bigger wave is coming
Electrek • • business
Key Points:
- Used electric vehicle (EV) sales in the US reached a record high in Q1 2026, with nearly 37,000 units sold through Manheim, the country's largest wholesale auto marketplace, according to Cox Automotive.
- Retail used EV sales exceeded 100,000 in Q1 2026, marking the second-strongest quarter on record, driven partly by rising gas prices and increased dealer willingness to stock used EVs.
- The supply of used EVs is rapidly growing due to a wave of off-lease vehicles returning to the market, many originally leased under federal tax credit incentives during the Biden administration.
- Experian projects that EVs will account for 15% of all off-lease vehicles by the end of 2026, up from 7.7% in Q1, as many lessees return vehicles when residual values exceed market prices.
- Lenders are adapting to pricing gaps, allowing the market to absorb increased used EV supply without major disruption, signaling continued growth in used EV sales and inventory in the coming months.
