The market for used electric vehicles (EVs) is expanding, with online car retailer Carvana reporting that EVs made up 5.7% of its sales in 2024—significantly higher than the industry average of 1.3% for used cars overall.
According to the company’s February 2025 EV Trends Report, saving money on fuel is the top reason buyers choose an EV, followed by interest in vehicle style and performance.
The report also found that 80% of EV owners primarily charge at home, and most drive fewer than 50 miles per day. However, more than half of EV drivers still take their vehicles on long road trips, signaling growing confidence in the technology.
Additionally, 88% of EV owners said they are more likely to purchase another EV in the future.
Still, consumers may hesitate to buy a used EV for a variety of reasons, according to some reports. A recent Kelley Blue Book survey found that 52% of consumers felt their lack of knowledge about EV batteries makes them hesitant or reluctant to buy a pre-owned EV. Rapidly evolving technology is another factor. Newer EV models often come with longer range, faster charging and updated features.
“Like all new technologies, EVs will go through various phases of adoption, but based on the growth Carvana has seen as selection and access improve, we believe EVs are here to stay,” said Carvana founder and CEO Ernie Garcia.
You can find Carvana’s full report online at carvana.com.