From late 2024 to early 2025, the market saw a record high in electric vehicle sales, according to a recent market report from Recurrent. Last year, 1.6 million new electric vehicles were sold in the United States (that includes battery electric vehicles and plug-in hybrid electric vehicles). All the while, the used EV market closed the year off with a 62.6% increase in sales, compared to 2023 numbers.
Experts point to the fear of losing federal EV incentives due to plans from the Trump administration as a major contributing factor to the uptick.
As of late January, President Donald Trump has revoked a non-legally-binding goal that, by 2030, half of all new vehicles in America would be zero-emission cars or electric vehicles, according to Car and Driver.
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Cost 💰 The Trump administration says it hopes to restore "true consumer choice" by rolling back some of the U.S. Environmental Protection Agency's vehicle emissions standards that may appear to favor EVs over internal combustion engine vehicles (gas- or diesel-powered cars).
As it stands, however, the federal EV incentives are still secured by the Inflation Reduction Act — a law passed by Congress in 2022. Trump's executive order on the matter cannot, on its own, override or undo the law unless approved through an act of Congress.
Recurrent's market trend analysis shows that the demand for EVs is expected to continue to grow, which means a cleaner future in the world of transportation. The Recurrent report estimates that 123,000 leased EVs will return to the used car market in 2025, with more than double that number (329,000) of leased EVs for sale in 2026.
Used EVs are hitting the market at exponential rates and more affordable prices, attracting more curious buyers. As consumers look to EVs for clean, cheap, and dependable cars, this could be a lucrative opportunity if you're looking to sell your used EV.
If you want to make the most of your used EV sale, Recurrent has a free service that allows you to monitor your EV's battery health for free. It provides data on your EV's current estimated range (distance per charge) as well as a projected future range. This data has helped EV sellers on Recurrent make, on average, $1,400 more on their EV sales.
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