It is the first time that federal credits have been extended to used vehicles. But during the autumn, as interest rates continued to rise, used car prices for both combustion-engine and electric vehicles went into decline. By December, the share of used EVs at less than $25,000 had risen to more than 16 per cent. The new federal incentive has changed the way Platt Auto Group, a dealership outside of Portland, Oregon, that specialises in used EVs, does business. Those looking for larger or more luxurious used EVs will probably have to keep waiting.
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