Arizona Tribune - Elektros Highlights Surge in Used EV Demand as U.S. Market Adapts to Rising Gasoline Cost

The used EV vehicle market is emerging as one of the most resilient growth stories in clean transportation. Used EV sales rose 12% year-over-year to 93,500 units in Q1 2026, with pricing now approaching parity used EVs average just $1,300 more than comparable gasoline vehicles.

Used EVs are also turning at nearly the same pace as gas cars on dealer lots, a clear sign of genuine consumer demand. For millions of American consumers, the barrier to EV ownership has never been lower.

New EV sales faced headwinds in Q1 as the $7,500 federal EV tax credit, which expired on September 30, 2025, was not replaced - pushing price-sensitive buyers toward the used market. Management views this as a transitional dynamic, not a structural retreat.

Importantly, rising energy and gasoline prices, driven in part by ongoing geopolitical tensions, are beginning to shift the calculus for cost-conscious consumers, with search activity and shopping traffic for EVs climbing notably across major automotive platforms in recent months. Analysts caution that interest doesn't immediately convert to sales, but history suggests sustained fuel price pressure is one of the most reliable catalysts for accelerating EV adoption. A wave of off-lease EVs now entering the market, combined with near price-parity versus gasoline alternatives, means consumers facing elevated pump prices have more accessible electric options than at any prior point in the market's history.

Charging infrastructure continues to expand in step. The U.S. DC fast-charging network surpassed 71,000 public ports as of April 1, 2026, with approximately 3,500 new stalls added in Q1, a meaningful increase over the 2,700-plus added in the same period last year. Globally, public EV charging infrastructure is projected to surpass 9 million stations by year-end 2026 as China and Europe continue to expand aggressively.

About Elektros, Inc.

Elektros, Inc. (OTC PINK:ELEK) is focused on the development of artisanal hard-rock lithium mining operations in Sierra Leone, West Africa. The Company's strategy centers on lithium exploration, development, and export to refining partners in the United States.

Investor Relations: www.elektros.energy/investors

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Factors include, but are not limited to, regulatory developments, operational execution, market conditions, and technological changes.

Contact
Elektros, Inc.
Investor Relations & Media
Email: [email protected]
Website: www.elektros.energy
Phone: 786-477-9003

SOURCE: Elektros, Inc.

View the original press release on ACCESS Newswire

M.King--AT