The used electric vehicle market is rising rapidly, with used Tesla prices significantly influencing overall prices, which are expected to converge around $25,000.
Recurrent's CEO Scott Case noted the decline of used EV prices has been notable, with a nearly 10% drop since January and a peak in Q3 2022.
The $25,000 threshold aligns with the used EV purchase incentive from the Inflation Reduction Act, which is crucial for encouraging consumers toward electric vehicles.
Dealers largely ignore used EVs priced above $25,000 as they seek to capitalize on the incentives available for vehicles qualifying under the Inflation Reduction Act.
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