EV Lease Returns Flood Dealers While Gas SoarsMotorTrend"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links."A tsunami of leased electric vehicles are coming back to dealers as we speak, and it's causing chaos for both dealers and consumers alike.Electric vehicle leasing exploded in 2022, thanks to the primarily to the Inflation Reduction Act, which allowed dealers to pass along a $7,500 incentive to consumers who opted to lease instead of buy. As a result, nearly 1 million EVs were leased from 2022 to 2025. In 2023 alone, half of the EVs that left dealerships were leased.Is now the the right time to pick up an lease-return EV? Signs indicate yes, as thousands of of them come back to dealers.MotorTrend - MotorTrendAs most leases run 24 to 36 months, we are starting see a massive increase in lease returns. J.D. Power predicts lease returns to jump by 230 percent in 2026, while Cox Automotive predicts 600,000-plus lease expirations across 2027 and 2028. Remember all those last-minute killer deals in the fall of 2025, before the $7,500 EV incentive went away? Yep, 2028 is 36 months later.AdvertisementAdvertisementSo, what are dealers going to do with a bunch of used off-lease EVs? Well, at first we heard they were panicking due to perceived low demand. But now, with gas prices rising again due to a war with Iran that has gone hot again, interest in EVs has picked up. It seems there is a tremendous opportunity for both dealers and those interested in trying out a used EV.So, who better to have on our future-focused podcast than Jimmy Douglas, the founder of Plug Motors, a marketplace dedicated to the used EV market?From Tesla to Plug MotorsPrior to founding Plug Motors, Douglas spent five years at Tesla, mostly as the general manager of Tesla's used car operation. As we discuss on the pod, of course, this experience informs the founding of Plug Motors and the opportunities Douglas sees in the building a marketplace that specializes in used EVs.Douglas is full of insights into what is going on right now in this space, and what both dealers and EV curious shoppers can do to find the best deals.Tune in for an entertaining take on the Ferrari Luce.FerrariAnd before you go thinking Douglas is only interested in EVs, you should know he is quite the automotive connoisseur and collector, having amassed a collection of 30 cars before he turned 30 years old. And, as you'll find, he has a Testarossa-red hot take on the newest, most controversial EV, the Ferrari Luce.AdvertisementAdvertisementYou can watch right here or on our YouTube channel. If audio is your thing, download the podcast here or wherever you listen to your podcasts. Like us? Please tell your friends, share us on social media, like the video, and don't forget to giveus a five-star review.