Used EV Sales Hit Record Market Share in US as Prices Fall

Used electric vehicle sales in the United States continued to climb in September 2026, reaching an estimated 47,862 units as falling prices and an influx of used EVs entering the market attracted more buyers. According to a new report from Cox Automotive, used EV sales rose 12.3% from August and 21.2% compared to September 2025. That pushed their share of the overall used vehicle market to a record 3.3%, compared with 2.9% in August. Monthly shares from January through September 2026 were reported as follows: January at 2.1%, February at 2.0%, March at 2.5%, April at 2.8%, May at 2.8%, June at 2.4%, July at 2.4%, August at 2.9%, and September at 3.3%. This growth occurs as the broader US EV market adjusts to the expiration of federal tax credits in 2025. Tesla captured approximately 54% of new EV sales during the third quarter. While new EV sales have struggled—falling 40.7% year-over-year to an estimated 86,632 vehicles last month—the used market is benefiting from an increasing number of vehicles coming off lease, providing more affordable options for buyers. Tesla remained the best-selling used EV brand in September, posting a 3.3% month-over-month sales gain. Chevrolet and Ford recorded stronger gains of 21.3% and 17.1%, respectively, while Nissan jumped 37.8%. The Tesla Model Y also continued attracting buyers, recording a 13.8% monthly sales increase. Affordability is playing a major role, with the average used EV listing price declining 1.8% to $36,767 (C$51,830), narrowing the price premium over comparable gas and hybrid vehicles to just 6.2%. Used EV inventory is moving faster as well, with days’ supply dropping to 35 days compared to 46 days for internal combustion engine and hybrid vehicles. Tesla maintained the tightest supply among major brands at just 27 days. With more off-lease vehicles expected to enter the market, used EVs could continue gaining ground as the price gap with gasoline-powered alternatives narrows.