Used EV Market Size, Share, Opportunities, And Trends By Type (Two wheeler, Passenger Vehicle, Light Commercial Vehicle, Commercial Vehicle), By Fuel Category (BEV (Battery Electric Vehicles), FCEV (Fuel cell electric vehicle), HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles)), And By Geography - Forecasts From 2025 To 2030

Used EV Market Size:

The used EV market is projected to grow at a CAGR of 29.77% between 2025 and 2030.

The increasing demand for used electric vehicles (EVs) can be attributed to several factors. The primary reasons are increasing sales of new EV models worldwide, the faster development of the charging infrastructure, and government policies supporting this market.

The charging infrastructure is being incorporated into residential buildings, and the number of publicly accessible chargers is increasing to enhance convenience and accessibility. According to the International Energy Agency (IEA), at the end of 2022, there were 2.7 million public charging points worldwide, more than 900,000 of which were installed in 2022. Moreover, Increased consumer environmental awareness and government incentives for adopting zero-emission vehicles are major factors for the used EV market.

• The falling prices of used EVs are one of the major drivers of market growth. According to Recurrent Motors, Inc., the prices of Tesla cars have fallen by 67.89% in the last two years since 2022.
• According to Recurrent Motors, Inc., the sale of all used BEVs and PHEVs has been higher than that of most EV models.
• Tax benefits related to buying an EV are a major benefit to the buyers. The government of India announced tax benefits under the new Section 80EEB, by which individual taxpayers can have tax deductions of up to ? 1.5 lakhs on the interest component of a car loan taken to buy an EV. In the United States, buying a qualified used EV or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less may be eligible for a used clean vehicle tax credit.

Used EV Market Trends

The market opportunity is the purchase of used electric vehicles at more affordable prices than new models from various online platforms is a major trend promoting the used EV demand. Buying used EVs would help customers adopt sustainable technologies at much more affordable prices and contribute to the overall reduction in carbon emissions. Additionally, the growing trend towards a shift from costly and premium EV options to used EV offerings is growing, especially among budget-conscious buyers globally. The integration of advanced drive-assistance systems, such as automatic braking and adaptive cruise control, in the EVs, which is common from 2018 models and onwards, makes the used EV also an attractive option for buyers who focus on safety. Moreover, the growing environmental concern is also a leading trend that is promoting consumers to shift towards used EVs for removing tailpipe pollutants, which also aligns with the government goal regarding sustainability and environmental regulations, such as Europe's stricter emission standards for vehicles.

Used EV Market Dynamics

Market Drivers

• Increasing sales of Electric Vehicles
  According to the IEA (International Energy Agency), the sale of battery electric vehicles (BEVs) increased from 4.7 million in 2021 to 7.4 million in 2022 and 9.5 million in 2023. On the other hand, battery hybrid electric vehicle (BHEV) sales were 1.9 million in 2021, 2.9 million in 2022, and 4.3 million in 2023. The demand for BEVs and BHEVs has increased by 102.13% and 126.32%, respectively, from 2021 to 2023. This increase in the sale of new EVs would boost the use and adoption of a sustainable vehicle ecosystem, leading to increased demand for used EVs as well.
• Government policies supporting EVs
  The favorable government policies are leading to the adoption of EVs. The US Federal Government has set a goal to make half of all new vehicles sold in the U.S. in 2030 zero-emission vehicles. The governor of California issued an Executive Order requiring that by 2035, all new car and passenger light truck sales be zero-emission vehicles. In India, under the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, the government formed a national policy relevant to EVs. The European Union adopted a law to make all new cars and vans sold in Europe zero-emission from 2035. These developments by various governments are leading to faster adoption of EVs.
• Faster development of EV infrastructure
  Governments worldwide are encouraging the development of EV infrastructures. The US Federal Government has set up targets for a convenient and equitable network of 500,000 chargers to help make EVs accessible to all Americans for both local and long-distance trips. In Europe, the recharging points are expanding rapidly due to the new EU legislation. The number of publicly accessible recharging points in the European Union doubled between 2021 and 2023. It has reached around 630,000 available for EV drivers. Recharging electric cars across the EU will be more convenient from 2025, as recharging points must be installed every 60 km along major transport routes as per the new legislation.

Market Restraints

• Lack of Proper Supply Chain, Workshops, and OEMs: The major impediment to the use of EVs in the market is the lack of proper OEMs, supply chains, and workshops. The market is in its very early stages, and manufacturers are making changes every year in terms of technology. This leads to insufficient knowledge or equipment to fix EVs in many independent garages and workshops in remote regions. Another main reason is the perception of residual value, which can be influenced by factors such as battery life and the unavailability of recharging infrastructure.

Used EV Market Segmentation Analysis

By Vehicle Type

The passenger vehicles segment is dominating due to its versatility in diverse applications.

The used EV market, based on type, is divided by type into two-wheeler, passenger vehicles, commercial vehicles, and others. Two-wheelers have a significant share in developing economies. They can be used for commercial as well as personal purposes. Passenger vehicles are most likely to hold a major share due to their application in both personal and commercial vehicles.

The passenger vehicles segment is growing due to the presence of a larger quantity of used EVs by the return of new EVs through trade-ins and lease returns for diverse companies' models like Tesla Models, Nissan, and Chevrolet Bolt passenger EVs. The used passenger EVs are driven by their affordability over new EV purchases. The lower cost of these EVs attracts cost-sensitive and budget-conscious consumers due to growing fuel costs and other economic pressures, especially in developing regions.

The supportive government initiatives through offering incentives like the US Used Clean Vehicle Tax credit, which offers a tax credit of about 30 percent of the sale cost for around maximum credit amount of $4,000 for the buyer who purchased a used EV or FEV of about $25,000 or less from a licensed dealer. This was brought into action from January 2023 under the Internal Revenue Service (IRS) of the US government. These policies are working in spurring the demand for passenger EVs globally, especially in urban regions, due to demand for eco-friendly and cost-effective commuting alternatives without the requirement of purchasing a premium vehicle.

Moreover, the rise in battery technology development has extended the range per charge, along with enhancing the longevity, to remove the range anxiety issue from used EV models, so it can be reliable for diverse commutes. The lesser moving parts of EVs compared to combustion engines, along with lower maintenance cost and simplicity in the EV powertrain system also increasing the adoption of resale value of EVs, along with buyer confidence in investing in used passenger EVs.

Used EV Market Regional Analysis

By region, the market is segmented into North America, South America, the Middle East and Africa, and Asia-Pacific.

• North America
  North America's used EV market is holding a significant market place driven by the growing EV adoption in the region, along with the affordability of used EVs and promotive government incentives such as the US Used Clean Vehicle Credit. The region has the presence of major EV automakers like Tesla and General Motors, along the region's expanding EV charging infrastructure is also boosting confidence among buyers for the purchase of used EVs, which will promote the market.
• Europe
  Europe holds a leading market share in the used EV driven by countries like Germany, the United Kingdom, and France, increased focus on the shift towards EVs, along with an increase in EV registrations across the region. Moreover, the incentives by the government on the purchase of EVs and stringent carbon emission rules and regulations are also boosting the used EV demand. The increase in charging infrastructure for ensuring accessibility for the buyers and strict certified pre-owned programs by countries are also enhancing the consumer trust in used EVs in the region.
• Asia-Pacific
  The Asia Pacific will have a significant share of the used EV market during the forecast period. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as the ASEAN countries. Asia Pacific is one of the largest consumers of automobiles in the world. The region has two of the fastest-growing economies in the world: China and India. China has become the world's largest consumer of electric vehicles. Additionally, India is growing in the electric vehicle segment, with product offerings from domestic companies like Maruti, Ola, Tata, etc. Moreover, the region has the highest population concentration in the world.

In addition to this, China is the largest market for new electric vehicles worldwide. The Chinese government has made stringent regulations and policies for transport climate policy, and now, China has a leadership role in global transport climate policy. Thus, the demand for used EV vehicles will increase in the upcoming years in the country, along with the new cars.

• South America
  The South America is used EV market is slowly fledgling, with countries like Brazil and Chile leading the regional market due to urban populations adopting EVs due to its sustainability, along with a rise in environmental awareness. The EV penetration was limited in the region and growing at a nascent pace, driven by the local battery recycling incentives and government environmental policies in transportation, along with the rising fuel prices, which could be a driving factor for the demand for used EVs across the region in the coming years.
• The Middle East and Africa
  The Middle East and Africa are emerging gradually in the used EV market, with governments investing in charging infrastructure along with the carbon reduction targets set by regional countries like the UAE and Saudi Arabia. The used EV prices costing less than the premium and new EVs, along with a focus on renewable energy, are also propelling the adoption of used EVs in the region during the projected period.

Used EV Market Competitive Landscape

The global used EV market competitive landscape is witnessing rapid emergence with growing EV adoption across the globe, along with the requirement for standardization of valuation of used EVs. The increase in the presence of diverse EV automakers and recycling and tech companies is significantly competing for achieving a substantial value in the second-life EV industry. Moreover, there are diverse companies that are focusing on strategic development of online platforms along with growing their regional presence, which is also promoting the intensity of the used EV market competition. For instance, Cars24 presents different models on its website. They also have retail outlets, where customers can view cars for sale. They are a leading player in the sale, purchase, and financing of pre-owned cars in India, Australia, Thailand, and the UAE. Similarly, TrueCar is an online marketplace for new, used, and certified pre-owned vehicles. On its website, customers can engage in buying and selling automotive transactions. TrueCar partners with a network of certified dealers to offer one of the most expansive inventories. TrueCar is bringing more transactions online. It gives unique solutions for purchasing a car for any budget and any number of times. Moreover, with the rise in EV adoption, companies are also focusing on combining advanced battery intelligence with scalable buyback programs and structured warranties for accelerating the market emergence globally.

List of Key Company Profiles

• EV.com Inc.
• OLX
• CarMax Enterprise Services, LLC
• HERTZ CORPORATION.
• TrueCar, Inc.
• Find My Electric
• Other

Used EV Market Key Developments

• Launch of an AI-supported platform: In August 2025, TrusTerra announced the launch of its AI-powered platform for addressing the standardization, low resale cost of vehicles, and trust among consumers in the Indian used EV market. It has key offerings in the platform, which are TruEVscore for evaluation of EVs, TerraCash, which is a quick liquidity and diagnostic services, and TerraBid, which is a certified dealer auction place. It aims to collaborate with insurance dealers, EV OEMs, and financial institutions while targeting major locations of the country with the aim of reaching a market cap of ?500 crore in the first two years of its operation.
• Strategic partnership and operational facility launch: In March 2025, Stena Recycling partnered with Nissan to offer used EV batteries from Nissan's LEAFs located in Norway. It involves the sustainability goal aimed at a steady stream of used EV batteries to align with carbon neutrality goals by 2050.

The Used EV market is analyzed into the following segments:

• By Type
  • Two wheeler
  • Passenger Vehicle
  • Light Commercial Vehicle
  • Commercial Vehicle
• By Fuel Category
  • BEV (Battery Electric Vehicles)
  • FCEV (Fuel cell electric vehicle)
  • HEV (Hybrid Electric Vehicles)
  • PHEV (Plug-in Hybrid Electric Vehicles)
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

Our Best-Performing Industry Reports:

• Electric Vehicle Infotainment Market
• Electric Vehicle Tires Market
• EV Solid State Battery Market

EV.com Inc.

OLX

CarMax Enterprise Services, LLC

HERTZ CORPORATION. 

TrueCar, Inc. 

Recharged 

VinFast

AutosEU

Cardino GmbH 

Ali Baba

Cars24

Find My Electric