Sales of used electric vehicles (EVs) continued to rise in July, showing that demand for affordable electric cars remains strong even as the wider new-EV market faces serious challenges.
Data from Cox Automotive showed that sales of used EVs increased by 7.7 percent between June and July 2026. Compared with July 2025, sales were 10.1 percent higher. The growth is notable because new electric vehicle sales have struggled during the same period. New EV sales rose only 3.2 percent from June but were still 41.5 percent lower than they were a year earlier.
One of the main reasons behind the growing interest in used EVs is affordability. New electric vehicles remain considerably more expensive than similar gasoline-powered cars. On average, a new EV costs about $6,477 more than a comparable vehicle with an internal combustion engine. For many consumers facing high interest rates and rising living costs, that difference can make buying a new electric car difficult.
The price gap is much smaller in the used-car market. Used EVs cost about $2,967 more than comparable gasoline vehicles. This makes them a more realistic option for people who want to switch to electric transportation without paying the high price of a new EV.
Rising fuel prices are also encouraging some drivers to consider electric vehicles. EV owners can avoid spending money on gasoline and may also save on maintenance because electric cars do not require services such as regular oil changes. These savings can make a used EV more attractive, especially when fuel prices increase.
The used-EV market is also expected to benefit from a growing supply of vehicles. Many electric cars that were previously leased are expected to enter the second-hand market in the coming years. This could give buyers more choices and create greater competition among sellers, potentially keeping prices within reach of more consumers.
The strong performance of used EVs comes despite the end of federal tax incentives for electric vehicles. The United States previously offered tax credits of up to $7,500 for new EVs and $4,000 for used ones. After the incentives were removed, EV sales dropped sharply. However, used EV sales have continued to grow, surprising some industry experts.
The wider EV market still faces difficulties. North American EV sales are down about 18 percent so far this year, while Europe has recorded significant growth. Several American automakers have also reduced their focus on electric vehicles.
Still, the continued growth of used EV sales provides a positive sign. As electric cars become more affordable and more widely available, the second-hand market could help bring EV ownership to consumers who cannot afford new models.
The latest figures suggest that used electric vehicles may become an increasingly important part of the transition to cleaner transportation.
The question now becomes: How can EV makers like Lucid Motors (NASDAQ: LCID) bridge the gap between robust used EV sales and dismal sales of new electric vehicles?
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