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Story summary
- The United States will see a significant influx of off-lease electric vehicles starting in late 2024, peaking around 2028, due to substantial leasing subsidies created by the Inflation Reduction Act of 2022.
- As these leases expire, the increased availability of used EVs will likely lower prices and benefit cost-conscious buyers.
- Market expert Sam Abuelsamid notes that battery-life concerns are unfounded, and this could boost adoption of affordable electric vehicles.
