Business08 April, 20261 min read
Used EV Sales Surge 12% as Prices Plunge and Lease Returns Flood Market
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July 2025 new EV sales reached 130,082 units. Used EV sales rose in Q1, with growth across segments.
Used Market Boom
Used electric-vehicle sales surged 12 percent as hundreds of thousands of lease returns flooded the market. The glut of off-lease EVs drove average used prices down 8.5 percent, closing the price gap with gasoline vehicles from $4,923 to $1,334.
EVs will account for 15 percent of all off-lease vehicles at the end of this year, up from 7.7 percent. New EV sales fell 28 percent year on year after the tax credit was withdrawn.
July Surge in New Sales
New EV registrations surged 26.4 percent in July to 130,082, the second-best month on record. Eleven brands posted their best sales of 2025.
Tesla remained the market leader with 53,816 deliveries. The average new EV price fell to $55,689, reducing the gap with combustion vehicles.
Lease Deals & Affordability
Lease deals powered growth because buyers accessed new EVs with lower monthly payments than gasoline models. The average lease payment for a Chevrolet Blazer EV was $515 compared with $586 for a petrol-powered equivalent.
Cheapest electric vehicles can be acquired for well under $20,000 with incentives and credits. The removal of the tax credit shifted demand toward cheaper models and the used market.