Used EV Supply May Drive Adoption Faster Than New-Car Incentives

Expiring leases will flood used EV markets with affordable inventory—rising from 123,000 units in 2025 to 660,000 by 2028. Steeply discounted vehicles like a 2023 Ioniq 5 dropping to $28,000 from $58,000 now compete directly with subsidized new cars, potentially shifting adoption patterns away from policy incentives toward market-driven pricing.