The Used EV Market In The US Is Red Hot - CleanTechnica

The article from CleanTechnica highlights the booming used electric vehicle (EV) market in the United States, driven largely by a legislative loophole in the current EV tax incentive program. While the $7,500 federal tax credit initially applied only to a limited number of new EV models purchased outright, a provision allowed the full credit to be claimed on virtually any EV if leased. Automakers and dealers capitalized on this loophole, resulting in a large influx of off-lease EVs entering auction markets nationwide. These vehicles, often purchased at auctions by dealers, are then refurbished and sold as used cars, contributing to a vibrant secondary EV market. A key development is that used EVs are now priced comparably to used internal combustion engine vehicles, eliminating the need for incentives to encourage buyers. This price parity, combined with growing consumer trust in EV technology, is fueling increased adoption. Early fears about battery longevity, safety, and reliability—fueled by initial issues with models like the Nissan LEAF