As gas prices spike to above $4 per gallon nationally, interest in the used electric vehicle and hybrid market is increasing.
CarGurus noted a 40 percent spike in views on used EV listings and a 17 percent increase in the views on hybrid listings. Tesla Model 3 used EVs had a 52 percent increase in searches.
The increased interest in EVs, even after the expiration of the used clean vehicle credit in September 2025, comes as the market is expanding. The supply of used EVs coming into the market is increasing, due to a large portion of the current off-lease returns being electrified vehicles. Cox Automotive estimates the share now exceeds 20 percent. Hundreds of thousands of off-lease EV models are expected to the hit the market in the next two years.
“We’re seeing off-lease used EVs coming back into the market more,” said Jeremy Robb, Cox Automotive’s Chief Economist on the Auto Market Brief podcast.
“The point we’ve been trying to make to dealers for the last few years, moving into 2026, is that if you are dependent on a 3-year-old car, the cars you’re going to get your hands on are EVs.”
Used EV retail sales were up 12 percent year-over-year at 93,500 in the first quarter of 2026, according to Manheim.
Sales are increasing as the gap in price between used EVs and internal combustion engines vehicles narrows. The average price in January for used EVs was $34,821, just $1,300 more than ICE vehicles. The narrowing of this gap is due to sharp decreases in the resale values for EVs.
To help dealers learn more about the used EV market, the NIADA Convention and Expo will offer the session, “How Independent Dealers Can Buy, Value, and Market Used EVs Profitably.”
Plug CEO Jimmy Douglas will break down how to source used EV inventory (online and in-lane), how to evaluate value beyond traditional gas-powered vehicle trade-in assumptions, and how to market EVs to “EV-curious” customers.
To register or learn more about the education at the NIADA Convention and Expo, visit niada.com/convention.
