Article: Charged and almost ready - stylised facts about the emerging market for used BEVs Journal: International Journal of Automotive Technology and Management (IJATM) 2025 Vol.25 No.4 pp.369 - 398 Abstract: Due to its scale, the used vehicle market can play an outsized role in propagating new technologies. In this paper, we study the propagation of battery electric vehicle (BEV) technology through this market. Utilising vehicle registration microdata for all new and used vehicles registered in the US for model years 2010-2022 we study the market for used BEVs and establish two key facts. First, they enter the used market at the slowest rate compared to any other powertrain technology. Second, BEVs enter the used market having been driven significantly less than similarly aged vehicles featuring other powertrain technologies. In seeking to understand why BEVs are not transacted more often in the used vehicle market, we build a model of registration counts. A decomposition suggests that lower usage can explain up to 45% of the differential rates of transition from new to used vehicle status between BEVs and internal combustion engine (ICE) vehicles. This suggests a large role for other factors, potentially related to the newness the product and associated early adoption behaviour. Inderscience Publishers - linking academia, business and industry through research

Title: Charged and almost ready - stylised facts about the emerging market for used BEVs

Authors: Levi Bognar; Scott A. Brave; Thomas Klier; Leslie McGranahan

Addresses: Chicago Booth School of Business, 5807 S. Woodlawn Avenue, Chicago, IL 60637, USA ' Federal Reserve Bank of Chicago, 230. S. LaSalle Street, Chicago, IL 60604, USA ' Federal Reserve Bank of Chicago, 230. S. LaSalle Street, Chicago, IL 60604, USA ' Federal Reserve Bank of Chicago, 230. S. LaSalle Street, Chicago, IL 60604, USA

Abstract: Due to its scale, the used vehicle market can play an outsized role in propagating new technologies. In this paper, we study the propagation of battery electric vehicle (BEV) technology through this market. Utilising vehicle registration microdata for all new and used vehicles registered in the US for model years 2010-2022 we study the market for used BEVs and establish two key facts. First, they enter the used market at the slowest rate compared to any other powertrain technology. Second, BEVs enter the used market having been driven significantly less than similarly aged vehicles featuring other powertrain technologies. In seeking to understand why BEVs are not transacted more often in the used vehicle market, we build a model of registration counts. A decomposition suggests that lower usage can explain up to 45% of the differential rates of transition from new to used vehicle status between BEVs and internal combustion engine (ICE) vehicles. This suggests a large role for other factors, potentially related to the newness the product and associated early adoption behaviour.

Keywords: used battery electric vehicles; used vehicle market; vehicle technology; BEV technology propagation; vehicle registration data; powertrain technology; BEV vehicle usage; ICE vehicle usage; vehicle technology adoption; USA.

DOI: 10.1504/IJATM.2025.152355

International Journal of Automotive Technology and Management, 2025 Vol.25 No.4, pp.369 - 398

Received: 12 Mar 2025
Accepted: 11 Jun 2025
Published online: 16 Mar 2026 *

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Title: Charged and almost ready - stylised facts about the emerging market for used BEVs

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