Used electric vehicle sales in the U.S. are expected to climb to a record high in the second quarter while new EV demand continues to normalize, according to Cox Automotive’s 2026 Mid-Year Review.
Cox forecasts about 128,000 used EV sales in the second quarter, up 28 per cent from both the previous quarter and a year earlier. New EV sales, meanwhile, are expected to reach roughly 244,000 units, down 22 per cent year over year, with market share at about 5.9 per cent.
The report said the used EV market is benefiting from a larger pool of off-lease vehicles, giving buyers more access to electric models at lower price points. Cox said used EV sales have nearly tripled since early 2023, with demand broadening beyond Tesla as more brands enter the second-hand market.
Inventory conditions are also shifting. Used EV days’ supply has tightened to 31 days, down 23 per cent from a year earlier and below internal-combustion vehicles at 42 days. That tighter supply is helping support prices, with used EV listing prices up about three per cent year over year to roughly US$37,000.
Hybrids are also gaining ground. Cox said hybrid electric vehicle share reached a record 14.1 per cent in the first quarter, as more models became available and consumers looked for fuel savings without the charging concerns tied to fully electric vehicles.
Cox maintained its full-year U.S. new-vehicle sales forecast at 15.8 million units, down 2.9 per cent from 2025.
