Latest Updates

• Cox Automotive EV Market Monitor: July 2025 2025-08-15 10:00

  The electric vehicle (EV) market gained strong momentum in July, with new and used EV sales rising sharply as consumers accelerated purchases ahead of the Inflation Reduction Act’s tax credit expiration. Inventory tightened, incentives climbed, and pricing adjusted – highlighting a market still heavily influenced by policy support but increasingly responsive to real-time demand.

  

  New EV Sales: July new EV sales climbed to 130,082 units, up 26.4% month over month and 19.7% year over year, lifting market share to 9.1%. It was the second-highest monthly total on record, with 11 brands posting their best EV sales of the year. The top five by volume – Tesla (53,816 units), Chevrolet, Hyundai, Ford and Honda – all saw strong gains, while Volkswagen surged 454% to sixth place. Luxury brands also performed well, with Audi (+150.2%), Cadillac (+14.5%) and Mercedes-Benz (+6.4%) signaling continued strength in the premium segment.

  Used EV Sales: Used EV sales rose to 36,670 units in July, up 23.2% month over month and 40.0% year over year, holding a 2.2% share of the overall used-vehicle market. The top five makes by volume were Tesla (15,903 units, +18.0%), Chevrolet (3,499 units, +28.6%), Ford (1,967 units, +25.7%), Mercedes-Benz (1,724 units, -12.3%) and Nissan (1,659 units, +19.9%). Tesla remained the clear leader, though its share dipped to 43.4%, down from 45.2% in June. Among luxury brands, BMW and Audi posted strong gains, up 43.8% and 38.0%, respectively. The largest month-over-month percentage increases came from Honda (+103.0%), Hyundai (+61.3%) and Rivian (+60.5%).

  

  New EV Days’ Supply: In July, new EV days’ supply fell sharply to 87 days, down 32.3% month-over-month and 49.0% year over year. The gap between EVs and ICE+ vehicles narrowed by 75.9%, shrinking from 48.1 days in June to just 11.6 days in July – its smallest margin since February 2025. Supply levels varied by brand: Audi held the highest EV days’ supply at 168 days, despite a 115-day drop from June, while Toyota had the lowest at just 42 days after a 32-day decline. The steepest drop came from Volkswagen, which fell 153 days to 116.

  Used EV Days’ Supply: The days’ supply of used electric vehicles declined to 40 days in July 2025, continuing a multi-month trend of tightening inventory and remaining below ICE+ vehicles for the fifth consecutive month. As with the new EV market, supply levels vary widely by make: Tesla had the lowest days’ supply at 29.4 days, followed closely by Chevrolet and Nissan, both under 40 days – highlighting strong demand and limited availability. In contrast, GMC, Ford and Rivian posted the highest supply levels, all above 64 days, suggesting slower turnover.

  New and Used EV Prices – July

  

  New EV ATP: In July, the average transaction price (ATP) for new electric vehicles declined to $55,689, reflecting a 2.2% decrease from June and a 4.2% decline year-over-year. The price gap with ICE+ vehicles narrowed to $7,611, the smallest since December 2024. EV incentives rose for the fourth consecutive month, reaching a record in the modern era of EV sales at 17.5% of ATP, or $9,768. Among brands, Volvo had the largest ATP decline at 17.1%, followed by Volkswagen at 12.2%, while Tesla dropped 2.4%, significantly influencing the overall average due to its volume. The top five selling EVs – Tesla Model Y, Tesla Model 3, Chevrolet Equinox EV, Honda Prologue and Hyundai Ioniq 5 – saw pricing and incentives play a pivotal role in driving volume. Incentives ranged from 14.5% to 27.7% of ATP, bringing effective prices for all five models below $40,000. The Chevrolet Equinox EV stood out with the lowest ATP at $38,477 and no reported incentives, reinforcing its strong value positioning.

  Used EV Listing Price: The used electric vehicle market saw a price drop in June, with the average price declining to $35,263, down 1.9% from the previous month and up 1.6% year over year. The price gap between used EVs and ICE+ vehicles narrowed to a record low of just $1,266, signaling increased affordability and competitiveness. Tesla models continue to lead the segment in pricing dynamics: the Model 3, Model Y and Model S are all priced well below the market average, with a weighted average of $26,294. The Chevrolet Bolt EV, at $14,408, remains one of the most accessible options for budget-conscious buyers, while the Tesla Model X, priced at $39,656, stands out as a premium offering.

  With the IRA tax credit set to expire at the end of September, urgency is likely to remain high, positioning the EV market for continued strength through the remainder of Q3. July’s performance sets a strong precedent, and as policy support winds down, the market’s ability to respond to real-time demand and brand-level dynamics will be critical in shaping the next phase of growth.

  Source
• Cox Automotive EV Market Monitor: June 2025 2025-07-18 10:00

  The EV market in June showed signs of steady momentum, even as underlying dynamics continued to shift. New EV sales softened slightly, but market share climbed. Used EV sales dipped month over month but remained sharply higher than a year ago. Inventory levels, pricing and incentives all indicate a market adjusting to evolving consumer demand and the waning influence of policy-driven support.

  New and Used EV Sales – June

  

  New EV Sales: In June, new EV sales totaled 103,945 units, marking a modest 1.4% decline from May. Despite the dip in volume, market share rose to 8%, up from 6.9% the previous month. On a year-over-year basis, sales declined 3.5%, a smaller decline than the overall market and an indication of the general market slowing. At the brand level, the top five performers were Tesla, Chevrolet, Hyundai, Ford and Cadillac. Market leader Tesla saw a 2.9% month-over-month increase, while Chevrolet posted a robust 24.4% gain, helping General Motors maintain its position as the second-leading EV manufacturer. Kia also staged a notable comeback, with sales surging 48.2% to 2,094 units, signaling renewed momentum for the brand.

  Used EV Sales: The used EV market declined 7.5% month over month in June to 32,043 units, holding a 2.1% share of the overall used-vehicle market. Still, year-over-year sales jumped 51.3%, signaling strong long-term momentum. Tesla remained dominant, though its share dipped to 45.2%, with the Model 3, Model Y and Model S ranking as the top three bestsellers. The Chevrolet Bolt EV edged out the Model X, placing fourth overall. Mercedes-Benz was one of the few major brands to post a monthly gain (5.4%), driven by a 38.6% rise in EQB sales. Audi and Porsche also saw growth, up 19.6% and 3.6%, respectively, highlighting strength in the luxury EV segment.

  New and Used EV Days’ Supply – June

  

  New EV Days’ Supply: In June, new EV days’ supply rose 9.9% month over month to 125, though it remains 14.8% lower than the same period last year. For the third consecutive month, EV inventory has outpaced ICE+ by more than 30 days — potentially benefiting consumers through greater availability and more competitive pricing, especially as the window for federal EV tax credits begins to close. Supply levels varied by brand: Audi, Volvo and Porsche posted the largest increases in EV days’ supply. Nissan remains the lowest for the second consecutive month.

  Used EV Days’ Supply: The days’ supply of used electric vehicles increased by 1.7% in June, effectively rising by just one day to 41, still 9.9% below year-ago levels and indicative of continued tight inventory. For the third consecutive month, the gap between used EVs and ICE+ vehicles remained under five days. As with the new EV market, days’ supply for used EVs varies widely by make: Tesla remains among the lowest at 33 days, while GMC leads at 74 days.

  New and Used EV Prices – June

  

  New EV ATP: In June, the average transaction price (ATP) for new electric vehicles dipped slightly to $56,910, reflecting a 0.6% decrease from May and a 2.8% decline year over year. The price gap between EVs and ICE+ vehicles narrowed to $8,785, down from $9,260 the previous month. EV incentives rose for the third consecutive month, reaching a record 14.8% of ATP, or $8,451 – more than twice the incentive level offered on ICE+ vehicles. This underscores the continued push to make EVs more accessible amid softening demand. Seven EV models had average transaction prices below $40,000, with the Nissan Leaf remaining the most affordable at $32,047. The Chevrolet Equinox, priced at $39,731, led in sales volume, making it the top-selling EV in this price range.

  Used EV Listing Price: The used electric vehicle market saw a modest price increase in June, with the average listing price rising to $36,046, up 0.3% from the previous month and 3.6% year over year. The price gap between used EVs and ICE+ vehicles remained narrow, below $2,000.Importantly, 43% of used EVs sold were priced under $25,000, highlighting the growing affordability in this segment. The Tesla Model 3 and Model Y, the top-selling used EVs, both fell within this range, averaging $22,998 and $29,111, respectively.

  Source
• Cox Automotive EV Market Monitor: May 2025 2025-06-19 10:00
  

  New EV sales rose 4.2% month over month in May, reaching 103,435 units and maintaining a 6.9% market share. However, sales were down 10.7% year over year, reflecting ongoing industry challenges and the dynamic nature of an emerging market. May estimates suggest Tesla remained the market leader with 46,150 units sold, a 0.6% month-over-month increase, followed by General Motors, Hyundai Motor Group and Ford. Honda, which launched its first EV in the spring of last year, rounded out the top five.

  The used EV market experienced modest growth in May, with sales increasing 1.1% month over month to 36,609 units, maintaining a 2.2% share of the overall used-vehicle market. Year over year, sales surged 32.1%, reflecting sustained momentum. Tesla led with a 49.6% share. According to our estimates, the best-selling used EVs last month were the Tesla Model 3, Model Y, Model S, Model X and Chevrolet Bolt EV. The used EV market continues to be dominated by Tesla-brand products, but we expect that to shift in the coming years.

  

  In May, new EV days’ supply rose 8% month over month to 111 days, though it remains 11.6% lower than the same period last year. New EV days’ supply continues to exceed that of ICE+ models by more than a full month. Supply levels varied significantly by brand, reflecting the dynamic nature of the EV market, driven by production shifts, evolving consumer demand, and strategic inventory management. Most automotive brands saw an increase in EV days’ supply, signaling improved inventory availability.

  In May, the days’ supply of used electric vehicles declined by 3.4% month over month to 40, an 11% year-over-year decline, reaching its lowest level since June 2022. The gap between used EVs and ICE+ vehicles has narrowed to less than five days. As with the new EV market, days’ supply for used EVs varies significantly by make. Tesla recorded the lowest level at 28 days. This tightening supply landscape suggests growing consumer interest in used EVs, signaling a potential shift in demand dynamics that could reshape pricing and remarketing strategies in the months ahead.

  

  In May, the average transaction price (ATP) for new EVs fell to $57,734, marking a 2.3% decline from April and a 1.1% year-over-year decrease. The price gap between EVs and ICE+ vehicles narrowed to $9,644, down from $11,108 the previous month. At the same time, EV incentives increased by 19.4% to an average of $8,226, now accounting for 14.2% of ATP, the highest share in the post-2018, modern EV era. These incentives remain more than twice as high as those for ICE+ vehicles, underscoring the continued push to make EVs more accessible.

  In May, the used electric vehicle (EV) market saw a modest price increase, with the average price rising to $36,053, up 0.9% from the previous month and 2.6% year over year. The price gap between used EVs and ICE+ vehicles remained narrow, staying below $2,000. The Tesla Model 3 was the top-selling used EV in May, averaging $23,160, a 1.6% decrease from April. As the used EV market matures, price trends are increasingly shaped not only by brand dynamics but also by shifting consumer priorities around value, range, and long-term ownership costs.

  Source
• Cox Automotive EV Market Monitor: April 2025 2025-05-21 10:00
  

  The new EV market faced several challenges in April, reflecting broader economic trends. The volume of new EV sales declined by 5.9% month over month to 100,495 units, while the EV market share rose slightly to 6.9%. Year over year, the EV sales volume decreased by 5.6%.

  

  In April, the new EV days’ supply increased by six days, up 4.2%, month over month, rising to 99 days. Year over year, the new EV days’ supply is down nearly nine days (19.9%), marking the widest gap between EV and ICE+ days’ supply since July 2024. In April, the days’ supply of used electric vehicles declined by 0.2% month over month and year over year.

  

  In April, the average transaction price (ATP) for new electric vehicles was $59,255, showing a 0.2% increase from the previous month and a 3.7% increase from the previous year. The price difference between EVs and ICE+ dropped to $11,087, driven by a 2.6% month-over-month increase in ICE+ ATP. Tesla’s ATP increased by 2.6% month over month to $56,120, the highest this year. EV incentives declined by 14% to $6,886, which is 11.6% of the ATP and the lowest dollar amount since June 2024. Despite this decline, EV incentives are still more than double the ICE+ average.

  In April 2025, the average listing price for used electric vehicles (EVs) was $35,874, showing a 2.8% decline from the previous month but a 3.8% increase compared to the same period last year. The price gap between used EVs and internal combustion engine (ICE) vehicles moved below $2,000, the lowest it’s been since July 2024.

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• Cox Automotive EV Market Monitor: March 2025 2025-04-18 10:00

  
• Cox Automotive 2025-03-20 10:00
  

  New EV sales fell -5.9% MoM to 95,692 in February, and used EV sales fell -4.7% MoM.

  • Both new and used EV inventories were significantly lower, by -31.7% YoY and -21.5% YoY respectively.
  • New EV prices fell -1.2% MoM, and used EV prices increased 1.8% MoM.

  Source
• Cox Automotive 2025-02-20 10:00
  

  New EV sales were up 29.9% YoY in 102,243 in January, and used EV sales increased 30.5% YoY.

  • Both new and used EV inventories were significantly lower, by -35.1% YoY and -23.3% YoY respectively.
  • Prices were also lower from a year ago with new EV prices down -1.4% YoY and used EV prices down -5.1% YoY.

  Source
• Cox Automotive 2025-01-21 10:00
  

  US electric vehicle sales volumes reached new all-time highs in December. New EV sales were up 14.0% MoM and 12.6% YoY and used EV sales were up 13.3% MoM and 76.0% YoY in the final month of the year.

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• Cox Automotive 2024-12-19 10:00