Sales of new electric vehicles have indeed started to slow, but the opposite trend is happening with used EVs. Here's why:

1. Increased Availability: A combination of factors has led to more used electric vehicles being available for purchase. These factors include tax breaks, price drops, and a glut of cheap Tesla models caused by Tesla's own price cuts on its new cars and SUVs.

2. Tax Credits: US Federal tax credits for used EVs are now available, not just for new ones. This USD4,000 credit can be used by dealerships as a price reduction at the time of sale, making EVs more accessible to middle-income shoppers.

3. Price Reductions: Despite rising demand, prices for used EVs are still falling. Searches for used EVs have increased, but the supply has also grown, leading to a 20% drop in average prices on sites like Cars.com¹.

4. Growing Interest: Consumers are increasingly considering both new and used EVs. Used electric vehicles made up 4.3% of Carvana's sales in the first quarter of this year, a significant jump from 1.8% last year.

In summary, while new EV sales may be slowing, the used EV market is thriving due to favorable factors and increased availability.