Used EV Glut May Drive Adoption Better Than Tax Credits

Expiring car leases will flood used markets with affordable electric vehicles—rising from 123,000 in 2025 to 660,000 by 2028. These discounted used cars, dropping to $28,000 from $58,000 within years, may push more people to switch to electric vehicles than government tax credits do. Price competition, not incentives, may become the primary driver of adoption.