In one fell swoop, battery health and data start-up Recurrent has attempted to debunk several negative headlines regarding electric vehicle sales being in the slow lane. Citing a preliminary projection from Boston Consulting Group, Recurrent said that both battery electric vehicles and plug-in hybrids are on track to account for 50% of new car sales in the U.S. alone by 2030. The study is based on lithium-ion battery costs, influx of new and affordable models, government incentives and more.
To counter slowing growth rate and to get EVs off dealer lots, automakers began offering attractive lease and finance options in 2023. This resulted in an explosion of plug-in vehicle sales in 2023, with nearly 1.8 million units sold. Many of those three-year leases would end in 2026 and Recurrent expects an influx of EV lease returns that year, meaning relatively new models would be back on the secondhand market at presumably attractive rates.