The demand for used electric vehicles (EVs) has surged, with CarMax reporting nearly double the searches for EVs since early 2022, coinciding with a significant drop in used EV prices.

The average price of used EVs has decreased by over 40%, making them more affordable compared to a mere 12% drop in prices for other vehicle types.

Oregon has surpassed California to become the state with the highest percentage of EV sales relative to total sales at CarMax, followed by California and Washington.

The introduction of all-electric trucks, such as the Ford F-150 Lightning and Rivian R1T, reflects a growing demand for versatile EV options beyond traditional passenger cars.

CATL has announced advancements in battery technology, including a new battery that allows for five-minute charging to achieve a range of 520 kilometers.

Verge has open-sourced its electric bike technology, enabling third parties to create their own models using Verge's innovative platform.

Ferrari plans to launch its first fully electric model while continuing to produce combustion engine vehicles, with new production facilities aimed at increasing output.

According to CarMax's Spring 2025 Electric Vehicle Consumer Report, Tesla's Model 3 and Model Y remain the top-selling used EVs, with the Chevy Bolt now in third place.

The U.S. DC fast charging network has expanded to over 55,000 ports, with reliability improving, particularly in states like Utah and Alaska.

Concerns about Elon Musk's association with Dogecoin have negatively impacted Tesla's reputation and sales, highlighting significant risks for the brand.

CarMax emphasizes that real consumer transactions, rather than predictions, are driving the evolving market for used EVs.

As the used EV market evolves from a niche segment to a mainstream choice, sustainable transport is becoming increasingly attainable for consumers.