The U.S. used electric vehicle market is experiencing an evolution driven by the increasing availability of vehicles, shifts in consumer behavior, and the ongoing maturing of the transportation electrification ecosystem. Following a steady climb in late 2024, the volume of used EVs has already reached an all-time high.
That’s the view from Recurrent Auto’s Q1 2025 Used Electric Car Prices & Market Report, which offers a comprehensive look into used EV trends, highlighting the shifts in market dynamics, consumer preferences, and lingering adoption barriers. From the report, it’s clear used EVs are accelerating in adoption, driven by key factors like the growing variety of EVs available in the marketplace and the ongoing surge of lease returns. So, what’s in store for this year?
More people are buying used EVs than ever before.
Rising Popularity of Used EVs: A Growing, Diverse Market
The sheer variety of used EVs entering the market is among the most compelling findings from Recurrent’s report. A few years ago, Tesla was the dominant player, but today, that landscape is shifting—major brands like Ford, Chevrolet, Hyundai, and Nissan are emerging with a growing presence and offering a range of vehicle types to meet diverse consumer needs.
“One of the biggest trends we’re seeing is that used EV shoppers now have options,” said Liz Najman, Director of Market Insights at Recurrent. “Consumers are no longer restricted to a single make or model when looking for a used EV. Instead, the broader selection they have to choose from is helping increase overall adoption and interest in the market.”
Among the most sought-after models, the 2023 Nissan Ariya stands out, receiving accolades as the Best Used EV of 2025. With up to 300 miles of range and a technology-forward design, the Ariya is setting a high standard for what buyers expect from an EV, whether pre-owned or new.
States across the U.S. are also seeing a rapid rise in used EV adoption. California remains the epicenter of EV adoption, but states like Texas and Florida are now major players, with the three states collectively representing 45% of the used EV market. New York, Illinois, Georgia, Oregon, and Washington follow closely behind, signaling that the appeal of used EVs is spreading well beyond traditional EV strongholds.
Barriers to Adoption: Navigating the Roadblocks
Despite the impressive growth of the used EV market, several key barriers that prevent broader adoption remain. Battery life is top-of-mind for many, making potential buyers wary of the long-term viability of used EVs.
“A counterpoint to confront any myths about battery longevity is that we have not yet seen widespread battery degradation and failure,” said Najman. “The EV batteries we’re tracking today are lasting even longer than most experts expected.”
To date, only 2.5% of EV batteries have been replaced, with less than 1% of vehicles from model year 2016 and newer needing replacement. Well-maintained, used EVs offer a promising lifespan—putting to rest many concerns about battery degradation.
Also, the lack of consumer awareness about how to buy a used EV poses a challenge. Many still lack confidence in navigating the used EV market, especially when it comes to understanding factors like battery health, electric range, and potential incentives. Education, transparency, and reliable data will be crucial to help build consumer confidence moving forward.
The Used EV Market’s Road Ahead
As more EVs make their way into the used car market through organic pathways like lease returns and trade-ins, the supply of affordable EVs will continue to grow in 2025. It’s worth noting that the pre-owned market is quite predictable and less impacted by changes in policy or production compared to new car sales. Recurrent predicts that more than 100,000 leased EVs will funnel into the used car market in 2025, with that number jumping to 650,000 by 2027. With prices for used EVs remaining attractive, particularly as 57% of used EVs are priced under $30,000, there is a unique opportunity for consumers to get into an EV at a fraction of the cost of a new one.
“Now is the time,” Najman advises. For those considering switching to an EV, there’s no better time to take the plunge. The key to the future success of the used EV market will be consumer education and continued improvements in battery technology. As awareness grows, more buyers will recognize the long-term value and sustainability these vehicles offer.
