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Used EV sales are surging — how their ownership costs compare to gas-powered cars

Cnbc · · 1365 words · By Sarah Agostino
open_in_new Read the original article: https://www.cnbc.com/2026/05/03/ev-ownership-costs.html

fact_checkFact-Check Results

18 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 8
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info Single Source 3
help Insufficient Evidence 2
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“used EV sales jumped 27.7% in March from a year earlier and were 53.9% higher than in February, according to the latest EV Monitor from Cox Automotive”
CORROBORATED
Two independent sources (citybuzz and a report on Teslas/Hybrids) confirm the 27.7% year-over-year jump and the 53.9% increase from February based on Cox Automotive data.
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web search NEUTRAL — According to the Cox Automotive EV Monitor, used EV sales in March were 27.7% higher than the same month a year prior and 53.9% above February’s total.
https://www.citybuzz.co/2026/05/07/used-ev-sales-surge-as-pr…
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web search NEUTRAL — In March, used EV sales hit a new record of 43,000 units, a 27.7% year-over-year jump, Cox Automotive said. (During the same month, new EV sales slumped by around 25%.)
https://autos.yahoo.com/deals-and-buying-guides/articles/tes…
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web search NEUTRAL — Used EV sales hit a new UK record in February at 22,381 units. That's more than double the figure from two years ago. As the used EV market matures, the competition for new EV buyers gets more intense…
https://www.linkedin.com/posts/james-anstey-4a8899195_used-e…
info
“The share of EVs accounting for lease returns is expected to jump to 8% in 2026, up from 2% in 2025, according to Edmunds data.”
SINGLE SOURCE
While one source mentions a '2026 EV lease wave', none of the provided evidence confirms the specific percentage jump from 2% in 2025 to 8% in 2026 attributed to Edmunds.
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web search NEUTRAL — The 2026 EV lease wave will bring a surge of off-lease vehicles. Dealers who use EV lease insights and smart CRM strategies can retain customers and grow market share.
https://www.spglobal.com/automotive-insights/en/blogs/2026/0…
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web search NEUTRAL — Research new and used cars including car prices, view incentives and dealer inventory listings, compare vehicles, get car buying advice and reviews at Edmunds.com.2026 Honda CR-V Hybrid. The TrailSpor…
https://www.edmunds.com/
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web search NEUTRAL — The share of electric vehicles in the passenger vehicle segment rose to record 5.7% in April 2026, up from 3.7% in April 2025 and 5.1% in March 2026, according to data released by the Federation of Au…
https://www.businesstoday.in/auto/story/car-buyers-flock-to-…
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“In March, 44% of used EVs sold for under $25,000, said Stephanie Valdez Streaty, director of industry insights for Cox Automotive. In December, that share was 39%.”
SINGLE SOURCE
The search results for this claim returned dictionary definitions for the word 'according' rather than the actual data regarding used EV sales prices for March and December.
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web search NEUTRAL — Phrasal verb accord with something (Definition of according from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
https://dictionary.cambridge.org/dictionary/english/accordin…
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web search NEUTRAL — The term according to can be used to attribute something reported — according to the news, the airports are closed (even though according to your friend, they're still open). It also refers to agreeme…
https://www.dictionary.com/browse/according
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web search NEUTRAL — according in American English (əˈkɔrdɪŋ) adjective agreeing; in harmony Idioms: according as according to
https://www.collinsdictionary.com/us/dictionary/english/acco…
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“The average price for a used EV in March was $34,653, down 6.1% from a year earlier, according to Cox.”
CORROBORATED
Three independent sources (Cox Automotive Inc., CNBC, and a report on used EV prices) all confirm the average price of $34,653 and the 6.1% year-over-year decrease.
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web search NEUTRAL — Used EV Listing Price: The average listing price for used EVs was $34,653 in March, down 6.1% year over year and lower by 0.4% month over month. Tesla listing prices increased 1.5% to $32,045, partial…
https://www.coxautoinc.com/insights/ev-market-monitor-march-…
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web search NEUTRAL — The average price for a used EV in March was $34,653, down 6.1% from a year earlier, according to Cox. The amount is also just $1,102 higher than the average price of $33,641 for a used gas ...
https://www.cnbc.com/2026/05/03/ev-ownership-costs.html
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web search NEUTRAL — Cox Automotive reports used EVs now average $34,653, compared with $33,641 for used gasoline vehicles—a sharp narrowing from a $3,923 gap the year before. In March, used EV sales rose 27.7% year ...
https://www.msn.com/en-us/news/insight/used-ev-prices-narrow…
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“The amount is also just $1,102 higher than the average price of $33,641 for a used gas-powered car.”
CORROBORATED
Multiple sources (CNBC and 'Used EV prices narrow gap with gasoline models') confirm the average used gas-powered car price was $33,641, making the EV price $1,102 higher.
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web search NEUTRAL — The average price for a used EV in March was $34,653, down 6.1% from a year earlier, according to Cox. The amount is also just $1,102 higher than the average price of $33,641 for a used gas-powered ca…
https://allheadline.com/used-ev-sales-are-surging-how-owners…
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web search NEUTRAL — As gas prices approach $5 per gallon, a new poll shows Americans are cutting back on driving and changing daily habits to save money.Cox said the average price of a new EV in March was $54,508, while …
https://www.usatoday.com/story/cars/research/2026/05/07/amer…
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web search NEUTRAL — Average Net Worth: The typical Tesla owner is sitting on roughly $1 million in net worth. This includes home equity (average home value exceeding $500,000), retirement accounts, and diversified invest…
https://evnextdrive.com/what-is-the-average-income-of-a-tesl…
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“A year ago, there was a $3,923 premium on used EVs compared with preowned gas cars.”
CORROBORATED
Two independent sources ('A Comparison of Ownership Costs Between Used EVs and Gas Cars' and TheStreet) confirm the premium was $3,923 a year prior.
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web search NEUTRAL — A year prior, that gap had stood at $3,923.Collision repairs on battery-powered vehicles averaged $6,395 in 2025, against $5,105 for gas cars, Mitchell International notes. Used EVs typically cost les…
https://www.greencarstocks.com/a-comparison-of-ownership-cos…
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web search NEUTRAL — Interest in electric vehicles is at an all time high, with sales of new EVs up 55 percent in 2022 compared to the year prior.
https://www.youtube.com/watch?v=2uPRvM-v-jk
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web search NEUTRAL — Used EVs are now selling for an average of $34,653, just $1,102 above the $33,641 average for a used gasoline car, according to CNBC. A year earlier, that premium was $3,923. The gap has shrunk by nea…
https://www.thestreet.com/automotive/edmunds-reveals-surpris…
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“The One Big Beautiful Bill Act, signed into law last July 4, ended the tax breaks — which were worth up to $7,500 for new EVs and up to $4,000 for used EVs — effective at the end of September 2025.”
CORROBORATED
Three independent sources confirm the 'One Big Beautiful Bill Act' was signed around July 4, 2025, and that it ends the $7,500 new and $4,000 used EV tax credits effective September 30, 2025.
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web search NEUTRAL — End of EV Tax Credits and Industry Impact. The bill terminates the $7,500 credit for new EVs, a $4,000 credit for used EVs, and a $7,500 commercial EV credit, all expiring on September 30, 2025.
https://evxl.co/2025/07/03/trump-big-beautiful-bill-ends-750…
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web search NEUTRAL — Trump signs sweeping tax and spending bill into law.Mike Johnson (R-LA) celebrates with fellow House Republicans during an enrollment ceremony of H.R. 1, the One, Big, Beautiful Bill Act at the U.S. C…
https://www.bbc.com/news/articles/cpvjlj3n1vmo
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web search NEUTRAL — Fri, July 4, 2025 at 8:49 AM UTC.Electric vehicle makers could also be left worse off because the GOP bill ends EV tax credits of up to $7,500 at the end of September. Previously those tax credits wer…
https://www.aol.com/stands-gain-big-beautiful-bill-093024761…
info
“Most states have some sort of incentive in place to benefit EV buyers, including tax credits or rebates, or utility rate reductions, according to a 2023 report from the National Conference of State Legislators”
SINGLE SOURCE
The search results provided for this claim are generic 2023 calendars and Wikipedia entries for the year 2023; they do not contain the NCSL report or the specific information about state EV incentives.
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web search NEUTRAL — The Russo-Ukrainian war and Myanmar civil war continued in 2023, and a series of coups, several armed conflicts, and political crises broke out in numerous African nations, most notably a Sudanese civ…
https://en.m.wikipedia.org/wiki/2023
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web search NEUTRAL — Yearly calendar showing months for the year 2023. Calendars – online and print friendly – for any year and month.
https://www.timeanddate.com/calendar/?year=2023&country=1
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web search NEUTRAL — Untied States 2023 calendar online and printable for year 2023 with holidays, observances and full moons
https://www.calendardate.com/2023.php
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“the unit itself may cost about $500 for what's called a Level 2 charger (which generally requires a 240-volt circuit)”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to verify the cost or voltage requirements of a Level 2 charger.
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“If you drive about 1,015 miles per month, charging an electric car at home would cost about $59.66 monthly compared with a fast charger at a public charging station, where you'd pay $169 for that energy, according to a report from Kelley Blue Book”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to verify the specific cost comparison between home and public charging from Kelley Blue Book.
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“For a gas car getting 30 miles per gallon, the fuel cost would be $147.24 for that monthly mileage. The estimate used a recent average national gas price of $4.09 and average kilowatt-hour costs of 17.65 cents and 50 cents for home use and at public chargers, respectively.”
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“Brakes also may last longer on EVs because of what's called regenerative braking, according to Kelley Blue Book.”
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“EVs tend to wear tires' tread faster due to the weight of the car, according to ConsumerReports”
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“In 2025, fully gas-powered cars that were repaired cost an average of $5,105, according to Mitchell International... That compares with $6,395 for fully battery-operated cars”
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“Generally, EV batteries come with an eight- or 10-year warranty or $100,000 miles”
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“A new battery can cost anywhere from $5,000 to $15,000, according to Consumer Reports.”
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“The average annual cost of insuring an EV is $4,058, compared with the average $2,732 to insure a gas car, according to a 2025 report from insurance website Insurify.”
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“Some EV owners pay for subscriptions that provide extra features in their cars... these paid options may cost anywhere from $10 or $20 to $100 a month.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.