Cox Automotive said on Tuesday, United States used electric vehicles sales rose 32% in the first three months of 2023 after the EV price fall.
This year the new EV price is 4% down. So, the average price of new EVs are $59,000. On the other hand, used EV cars are available at an average price of $43,400.
There are significant electric vehicle sales in the USA. More than 2.5 lakh electric vehicles in 2023 by the Kelley Blue Book. This is approximately 7% of new vehicles.
Recently Tesla cars’ prices have gone down , as a result other electric vehicles price down. Cox said,” As a market leader pushes down prices for new EVs, used vehicles prices follow suit”.
On Tuesday, Tesla cut down its car price from 2% to 6%. It is the fifth consecutive price fall this year. In April, Washington DC announced that it will limit many EV tax credits.
USA electric car maker company General Motors said it sold more than 20,000 units last month. It is 3.4% of total EVs sales in the USA.
In August, the USA government announced $4000 used EV tax credits. This will be applicable if the buyer buys his vehicles from dealers at Rs $25,000 or less. The maximum credits is 30% of the sales price up to $4000.
Used EV car buyers gross income may not exceed $75,000 for individuals and may not exceed $150,000 for joint filers. Cox Automotive predicted that the new EVs sales in the USA may surpass 1 million units by the end of this year, where it was 80,7000 units last year,2022.