Used-car shoppers are marching to electric and hybrid vehicles this month, it appears.

Citing internal data, used-car retailer CarMax said searches for electric vehicles and hybrids on its website from March 2 through Sunday was up 12.8% from Feb. 1 to March 1.

This “statistically significant lift” in shoppers looking for these rides indicates, “rising gas prices may be prompting more consumers to explore fuel efficient options,” CarMax senior vice president of retail Wes Dunn said in comments emailed to Auto Remarketing.

“As gas prices rise, they can serve as a starting point for consideration, but whether shoppers move beyond initial interest depends largely on how confident they feel about what EV ownership looks like in practice,” Dunn said.

“Consumers are weighing practical questions around range, charging access, battery durability, and overall cost of ownership as they assess whether an electrified vehicle fits their needs and lifestyle.”

With growth in charging infrastructure and a clearer picture on range, some of the concern among consumers has mellowed, Dunn says.

However, there still needs to be education and transparency around EVs, especially for those who are new to the segment, he said.

“Affordability also plays an important role, and for many consumers, used EVs can offer a more approachable way to explore electric vehicles without the commitment of buying new,” Dunn said. “Ultimately, the more informed and confident customers feel, the more likely they are to consider whether a used EV is the right option for them.”

According to the latest EV Market Monitor from Cox Automotive, there were 30,879 used EVs sold in February, which beat January figures by 4.2% and prior-year figures by 28.8%. Used EV days’ supply of 42 was down 9.8% month-over-month and down 10.2% year-over-year, the Cox report showed.

Average used EV prices fell 1.9% month-over-month and 8.5% year-over-year, coming in at $34,821. Used EVs were just $1,334 pricier than their internal combustion engine counterparts in February. In fact, Cox said used EV prices were lower than used ICE vehicle prices in 18 of the 26 brands included in its data set.

“February underscored the EV market’s new reality, with new EV sales sharply lower year over year and used EV momentum continuing to build,” said Cox Automotive director of industry insights Stephanie Valdez-Streaty, who authored the report.

“Inventory levels tightened from January and prices were pushed lower across both new and used segments, highlighting a market increasingly driven by affordability and demand alignment.”

Streaty will be among the speakers at next month’s Used Car Industry Summit, which includes a dealer-focused Used EV Day hosted in partnership with Recurrent.