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Thanks for reading EV Cents by Recurrent. Each edition brings you clear, data-driven insights from 1 billion miles of EV driving to help you better understand your car and the market.

Why used EVs are getting trucked across the country and that's great news

There is now a steady stream of used electric vehicles being loaded onto carriers in California and driven 2,700 miles to dealer lots on the East Coast.

Matt Diorio is one of the people creating that stream. He runs the pre-owned side at an Ourisman Automotive store outside DC, in a Maryland county he says has the third-highest EV registration in the country. 

Demand isn't the problem. It’s supply, so he has to go to where the cars are. "I buy cars out of California every day," he told us.

It signals something bigger than one dealer's sourcing strategy. It means the used EV market has started behaving like a real, mature market, and that matters to you whether you're buying, selling, or just keeping an EV in your garage.

Think back to what this market looked like a few years ago: A wave of new models, aggressive lease deals, and a federal tax credit that shifted pricing to make used EV values almost impossible to predict. Owners couldn’t find a reliable signal on what their car was actually worth from one month to the next. 

That's changing, and the reason is that demand for used EVs is no longer concentrated on one coast.

California sold a staggering share of America's EVs over the last 10 years. In 2023 alone, Californians bought over 400,000 new EVs. That’s +30% of new EVs sold in the country from a state with 12% of the population. Roll forward three years and that enormous cohort is coming off lease and getting traded in.

Now demand has spread across the country, to dealerships like Ourisman outside DC, where historical lease rates can't keep up with what buyers want. So the cars move to meet that demand. Supply in California, demand spread coast to coast, and a freight network connecting the two.

That's why this matters even if you never buy a used EV: broad national demand is what pulls prices toward each other. When buyers exist everywhere and cars can move to reach them, the wild state-to-state swings start to compress. A used EV stops being worth wildly different amounts depending on where it happens to sit, and starts being worth something more consistent.

Want proof the gap was ever that wild? A couple of years ago, we found the same used EV could cost $8,000 more in one state than in the one right next door. Take a look and see how much room there was for prices to converge.

From the Market

The used EV lot doesn't look like it did 3 years ago.

For years “used electric car” was synonymous with “used Tesla.” Tesla sold most of the new cars so they were also the majority of used cars.

But that’s evolving quickly now.

The number of distinct used EV models on many dealership lots has roughly tripled in four years: from fewer than 40 in 2022 to more than 120 today, according to Cox Automotive. Use car shoppers can choose from small to large, and genuinely affordable options that didn't exist secondhand a few years ago.

"Three years ago, it was limited to sedans and crossovers," Recurrent's head of growth and research, Andrew Garberson, told Bloomberg. "Now you're seeing trucks and three-row SUVs and luxury crossovers and more affordable crossovers. It's just the kind of cars that people want to buy."

This is a critical piece of the maturity story. A market with one dominant brand and two body styles is a niche. A market with 120+ models across every segment is just... the car market. For anyone who looked at a used EV a few years back and didn't find their shape of car, it's worth looking again.

Ask Recurrent

Question: "What’s realistic EV battery degradation for used cars?"

It's the most common reason people talk themselves out of a used EV, and the data says it's mostly unfounded.

Across the 30,000 EVs that Recurrent supports each day, battery health typically drops about 1–2% a year, and the loss isn't linear. Most of it happens early, as the battery settles into its long-term state. After that, aging slows to a crawl for most of the car’s life. The result is that plenty of three-year-old EVs still deliver more than 95% of their original range, and many match or beat their EPA estimate because manufacturers tend to rate range conservatively in the first place.

The most common OEM battery warranty runs 8 years or 100,000 miles, guaranteeing the pack stays above 70% capacity. A used EV coming off a typical lease usually has years of that coverage left.

That means the battery isn't the gamble it feels like.

Thinking about selling? Now's a good window.

Demand for pre-owned electric cars right now is real. Get genuine offers from vetted EV experts without the back-and-forth.

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