Used EV Sales Are Spiking — Is It Time To Sell Yours?
Used electric vehicles (EVs) are moving fast — not on the road, but off of used car lots. Specifically, a recent report by Cox Automotive found that used EV sales have jumped 53.9% since February 2026 and have increased by 27.7% since April of 2025. At the same time, the supply of used EVs has severely dwindled in response to this increased demand.
That specific combination — shrinking supply, spiking demand — raises a rather obvious question for EV owners: Is it a good time to sell your own electric vehicle? The answer isn’t immediately obvious and depends on how much you own on your EV, and whether you’re planning on replacing it with another ride anytime soon. For some owners, though, the current used EV market makes right now the perfect time to sell.
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Why Are Used EVs Selling in Such High Numbers?
The easy answer is, well, gas prices.
As Cox Automotive noted, elevated fuel prices driven up by the war in Iran are pushing more shoppers towards the EV market. While Cox also noted that long-term consumer behavior doesn’t generally shift overnight, higher gas prices are certainly helping to drive extreme interest in EVs in the short-term.
Beyond fuel efficiency during a gas crisis, used EVs have also become very attractive to consumers during a rocky economy because EVs sell for cheap. The average listing for a used EV in March of 2026 was $34,653 — a decrease of 6.1% compared to 2025.
In short, EVs are now less of a luxury purchase and are becoming a more financially feasible used-car option. Affordability has long been an obstacle for EVs, especially with younger buyers already dealing with high rent and student loans. Now that EVs are dropping in price, shoppers are snapping them up.
What This Means for EV Sellers
According to the Cox Automotive study, used EV sellers are moving their stock far faster than the previous year. This creates leverage for sellers.
If dealerships are actively trying to keep EV inventory stocked while consumer demand rises, trade-in offers and resale demand will likely improve, especially for strong brands like Tesla, Chevy, Ford and Hyundai. Tesla in particular continues to dominate the EV market and move off of used car lots rather quickly.
That said, while EV sales are surging, they aren’t quite skyrocketing. The average used EV listing price has actually dropped somewhat month-over-month since March, and overall EV prices are lower than a year ago. This is partially because so many more used EVs are hitting the market, giving shoppers more options across multiple price points.
The Bottom Line
The used EV market is definitely having a hot moment: Sales are climbing fast, supply continues to tighten and younger buyers who are fed up with high gas prices are turning to EVs over gas guzzlers. Does that mean you should sell your EV tomorrow? Probably not. However, if you're already looking to unload your EV for another ride, there has never been a better time to make the move.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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