Despite production challenges and a charging network that often still leaves a lot to be desired, the used electric car market is booming. Used EV sales in the first half of 2023 surpassed the majority of new EV sales, according to the latest market report from battery health and data startup Recurrent. The company reports that in the first half of 2023, 140,000 used EVs were sold in the U.S.
For starters, the used EV inventory has grown threefold over the past three years, increasing from 11,000 vehicles in April 2021 to over 33,000 today. The share of pure EVs in this inventory has grown from 55 percent in 2021 to 73 percent today. The rest are plug-in hybrids. New Tesla Model Y sales exceed used EV sales volume. Infographic: Recurrent Auto Thirty percent of used EVs also qualify for the $4,000 federal clean vehicle credit, and obtaining the credit is about to become easier.
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