The Flood of Cheap Used EVs Will Cost Car Companies Billions

A Flood of Used EVs is ComingA surge is coming to the used car market, and they’re EVs. In the next few years, a tidal wave of leased EVs will return to dealerships as early adopters hand over their keys. For buyers, this is shaping up to be the best shot yet at owning an EV without the steep new-car price tag.Leasing fueled much of the recent EV boom. With incentives and tax credits lowering monthly payments, many buyers chose two- or three-year leases over buying outright. Now, all those EVs are returning to the market at the same time.For shoppers, this is about as good as it gets. More supply almost always means lower prices, and with EVs already dropping in value faster than most cars, the used marke …