The fastest-selling cars in America are used EVs

Growing popularity: An EV being charged in the United States. Sales of used EVs in the country this year through June increased by 34% over the year-earlier period. — Bloomberg

New York: A year ago, the new Ford Mustang Mach-E GT had a sticker price around US$55,000. A month ago, Jeff Craig, a retired realtor, bought a slightly used 2024 version for US$33,000. In exchange for 12 months and 13,000 miles, Craig got a 22% discount.

“I really did want an electric vehicle (EV) and I never had any intention of buying new,” he said. “And I know what the depreciation is on any new vehicle, but I also had noticed the depreciation on the EVs appeared to be considerably more than a conventional engine.”