In 2023, 46 percent of all franchise EV sales were leases, a trend expected to continue in early 2024, highlighting the shift in consumer preferences.
JD Power predicts a potential shortage of used internal combustion engine vehicles (ICE) in 2025 and 2026, largely due to decreased leasing.
The average price of a new electric compact SUV has decreased significantly to $35,900, showcasing a notable reduction of $12,700 from 2022 prices.
While used EVs are anticipated to see a 2 percent drop next year, a significant increase of 230 percent is expected in 2026 as leases expire.
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