Used EV Sales Soar 59% As September $7,500 Federal Credit Deadline Sparks Rush
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U.S. used electric vehicle sales surged 59% in August, driven by the impending September 30 deadline for the $7,500 federal EV tax credit. The average transaction price for a used EV reached $34,700, with 40,960 units sold, marking a 22% month-over-month increase. Tesla topped the used EV sales on Carvana, while Amazon entered the used car market. Additionally, Tesla introduced $0 down leases for its used Model 3 and Model Y in California and Texas. Used car prices also saw a significant rise earlier this year, according to the Manheim index.
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