Autoblog and Yahoo may earn commission from links in this article.Moving to ElectricAccording to data from Edmunds, the shift from gas to electric has increased from 67.1% in January this year to 72.1% in April; this is the rate at which EV buyers are trading in their gasoline-powered vehicles, even without federal tax incentives.The increase suggests that more and more people are making the switch, and a sustained rise over the next few months will indicate a significant shift in the market towards electric power.2025-2026 Lexus RZ 450e Premium in EtherLexusTrend or Fad?There are numerous factors to consider here. Electric power has recently proven itself to be a hedge against rising gas prices. Current electric vehicle owners have been able to skip the pump entirely, opting to charge at home or at nearby fast chargers. That's just one of the driving factors forcing car buyers to switch.AdvertisementAdvertisementLooking at the other numbers, we saw that 26.2% of buyers in January traded in an old EV for a new one. That EV-to-EV trade-in rate has since risen to 35.4% in April. Furthermore, the removal of the $7,500 Federal EV tax credit incentive has soured the deal, but consumers are still going through with their purchases. So, can we say that this is a real trend and that EVs have real momentum?David Paul Morris/Bloomberg via Getty ImagesUsed Car Prices on The RiseEverything is getting more expensive, but even more so on the EV side. Brand-new cars are getting more expensive as costs rise, and it gets harder and harder to do business. Importation costs have inflated price points. However, that also extends to used cars, including EVs. Lower running costs are also part of the equation here. No engine means no fuel is needed, and motor oil is also seeing a price bump as raw material supply gets strained.From Cox Automotive, "we continue to see EV prices rising faster and holding higher than non-EVs. Three-year-old EV prices have outpaced non-EVs for six weeks in a row and are 11% higher than they were at the start of the year. The longer gas prices remain elevated, the more we expect consumers to turn to fuel-efficient vehicles. As EV lease maturities come to increase throughout the summer, it will be critical to follow EV price trends – especially if the Middle East conflict remains unresolved," said Jeremy Robb, Chief Economist at Cox Automotive.Gas-guzzling SUVs didn't see as large an uptick as used EVs, with the rate rising by just 0.3% since last year. Again, this can be attributed to the gas crisis we're currently facing.AdvertisementAdvertisementHowever, compact gasoline cars, which are more fuel-efficient, saw the second-highest increase behind used EVs, at 7.6%. Because of that, one could infer that it's more about the running fuel costs than a full-on transition to electric power.Cox AutomotiveView the 3 images of this gallery on the original articleIt Still Remains to be SeenIf this were any other day, without the gas crisis, without the rising maintenance costs, or the rising material costs, then perhaps we could call it right then and there. If this, however, continues, then we might be seeing a real trend away from gasoline power.CNBCreported that the Senior Director of Insights at Edmunds, Ivan Drury, said that "oil and gas prices started rising after the U.S. and Israel attacked Iran on Feb. 28. About three months of high gas prices and elevated EV trade-in numbers will give a better indication of whether customers feel pinched enough at the pump to consider a switch." Maybe towards the end of the year, we'll get a more definite answer.Sony Honda MobilityThis story was originally published by Autoblog on Jun 1, 2026, where it first appeared in the News section. Add Autoblog as a Preferred Source by clicking here.