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The Rise of Used EVs

"Welcome back to the EV insights monthly update from Recurrent, where we share data and answer questions. Last week we published the latest EV market report, covered by USA Today. Here are the 4 stories from it that are most important to EV owners.

1. "Car flipping" of like-new EVs is out of control. Some used Rivian and Hummer EV models are selling for $50,000+ over MSRP. People don't want to wait in long reservation lines.

2. Your EV got $10,000 to $20,000 more valuable if you own some Tesla and Ford Mustang models. A combination of supply shortages and price hikes for new models is causing this rise in value.

3. Used EV prices will remain high. The supply chain constraints, rising gas prices and equipment shortages all factor into this, and it might take over a year until production backlogs clear and new facilities come online.

4. Electric trucks and SUVs are converting drivers. More people have preordered the all-electric Ford F-150 Lightning than all Nissan LEAFs ever sold in the US, and the Tesla Model Y crossover SUV is the best-selling EV.

(repost from the Recurrent Newsletter - sign up for more EV insights on their website)

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