Used EVs: Affordable Option Amid High Car Costs | 2026 Market Outlook - News and Statistics

Mar 21, 2026

High inflation, persistently high interest rates, and surging gas prices have made buying and owning a car expensive. New cars hover around the $50,000 price range, making them unaffordable to most Americans, but the used-car market has usually stepped in and taken some of that load. The used-car market is nearly twice the size of the new car market, with used car sales in the US ranging between 32 million and 40 million sales each year, and those prices are rising as demand increases.

One segment of the car market poised to fill in the affordability gap is used EVs. A boatload of new supply may soon help consumers. That is because a lot of cars purchased during the $7,500 Biden-era federal EV tax credit are coming off standard three-year leases. Data site Recurrent expects up to 500,000 EVs to come off lease in 2026, with nearly double that possible in 2027. This may open the door to a new market that can reach millions of Americans who are looking for an affordable option for their next vehicle.

Auto purchase and review site Edmunds.com also reports more electrified vehicles are entering the used market due to lease returns. While internal combustion vehicles made up 93% of expected lease returns in 2025, that share is projected to fall to 82% in 2026; meanwhile, the share of battery electric vehicles is projected to rise from 2% of lease returns in 2025 to 8% in 2026, according to Edmunds. Couple that with the fact that most lease buyouts for EVs are not economically attractive, and more lessees choose to return their vehicles at the end of the lease rather than purchase them, potentially adding more supply to the used EV market.

As more of these vehicles enter the used market, shoppers looking to reduce fuel costs may find more affordable electrified options than buying new. Because many of these vehicles are only a few years old, buyers may also benefit from improved range and technology compared with earlier EV models. And used EVs appear to be a bargain. Car shopping site Cargurus.com noted in its February market report that used EV prices have fallen 35% since 2022 to an average of $34,600, creating an opportunity for shoppers looking for a good deal on an EV. Cox Automotive reported that in February, overall used EV sales in America totaled 30,879 units, up a whopping 28.8% year over year and 4.2% month over month, suggesting Americans were getting in on the trend even before the surge in gas prices.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

KEY FINDINGS
MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO

3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects

MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035

4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

Finding New Products to Diversify Your Business

TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORT

5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Export

TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS

7. PRODUCTION

The Latest Trends and Insights into The Industry

PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

8. IMPORTS

The Largest Import Supplying Countries

IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

9. EXPORTS

The Largest Destinations for Exports

EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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United States