Used electric vehicle sales are climbing sharply as prices close in on those of comparable gas-powered models. In March, used EV sales were 27.7% higher than the same month a year prior and 53.9% above February’s total, according to the Cox Automotive EV Monitor. A key factor behind the supply surge is the volume of vehicles leased between late 2022 and the end of 2023. Most of those agreements run three years, and the cars are now flowing back onto dealer lots in large numbers.
All in all, as firms like Massimo Group (NASDAQ: MAMO) put more EVs in the hands of motorists, the proliferation of electric drivetrains is likely to gradually slash the cost of ownership premium associated…
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