What a lot we’ve got on the lot! EV Prices Set To Be Hammered As Early Leases End
Huge numbers of EVs will come off their leases in 2026, flooding the market with used car inventory and likely leading to quickly falling prices that could be considerable.
According to J.D.Power, “… returning EV lease volumes are projected to decrease 2% in 2025 before surging 230% in 2026, when a total of 215,000 EVs will come off lease.”
READ MORE ABOUT SLOWING ELECTRIC VEHICLE SALES
So sorry, planet Earth, but we Americans are really not all that interested in Electric Vehicles
The EV unfaithful: 81% Of Electric Vehicle Owners also Have a Gas-Powered Car
EV prices have already started to fall. New EVs are often sold with significant incentives, dropping purchase prices by as much as $10,000 off MSRP. Meanwhile, zero percent financing is not unusual in the segment, further driving down the overall cost of new EV ownership.
Overall, the low demand and an impending flood of use electric vehicles is expected to gut prices in the sector.
As Forbes recently reported, “… the price drops have been especially pronounced on the used-car side of the lot, where pre-owned EVs are now selling for 11.4% less than internal combustion models. A year ago, they were going for 12.1% more than conventional cars, trucks and SUVs.”
All of which leads to a troubling downward spiral. .
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