In August, sales of used EVs hit a record 40,960 units, a 59 percent increase compared to the same month last year. Cox’s report also showed that new EV sales set a record at 146,332 units, but grew just 17.7 percent from 2024. For price-sensitive shoppers, the combination of incentives and lower purchase prices has made used EVs far more appealing than new ones. Looking forward, analysts expect the used EV market to maintain its momentum. Used EVs have moved beyond niche status and into the mainstream, attracting buyers who once might not have considered them.