EV Sales Slow But Steady
Segment achieves record market share in Q3 as incentives help bridge the price gap with non-EVs.
General Motors' EV sales jumped almost 60% in the quarter. Its lineup includes the Equinox.
Chevrolet
U.S. electric-vehicle sales hit a new market-share record in the third quarter, helped along by incentives.
EVs’ share of sales reached 9% in the quarter, according to Cox Automotive, which said that’s a record high and up from 8% a year earlier and a 5% quarter-over-quarter increase.
Cox acknowledged that EV sales growth has slowed but said it’s still in a gradual climb.
“… as more affordable EVs enter the market and infrastructure improves, we can expect even greater adoption in the coming years,” said Director of Industry Insights Stephanie Valdez Streaty in a press release on the quarterly results.
EV incentives made up more than 12% of the average transaction price on average, well above the overall industry vehicle incentive average of about 7%, Cox said.
Leasing volume helped, since leasing qualifies all EV models for federal tax incentives.
EV prices were essentially flat in the quarter, which didn’t hurt, either, with an average transaction price of $57,000, Cox said.
Tesla sales rose 7% on a spurt from the newly introduced Cybertruck, which Cox said sold more than 16,000 units despite its hefty $116,000-plus price tag. General Motors EV sales surged nearly 60%, though Cox said it’s still far behind Tesla, the market leader.
More Industry
Dealer Debrief: New-Vehicle Sales Update
In this week's debrief, host Lauren Lawrence discusses the state of new-vehicle sales.
Read More →
Color Your Ride
The first vehicles by startup automaker Slate will come with the option of a medley of wraps in five colors familiar from your childhood.
Read More →
China Leads Global EV Sales
Globally, electric-vehicle sales are continuing their upward trajectory, buoyed by Chinese exports, as the North American region continues to lag behind.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Optimized Charging Could Reduce Costs
According to an Alliance for Automotive Innovation analysis, optimized EV charging could cut costs for drivers and improve grid infrastructure - potential adoption incentives.
Read More →
June Automotive Boon?
A forecast for this month’s new-vehicle sales tells a familiar 2026 story: Year-over-year comparisons must be made in light of last year’s aberrations.
Read More →
Safety Improvements Save Lives
Over the past 30 years, automakers have made many safety tweaks to their vehicles. An insurance industry testing group says that's largely thanks to its crash-worthiness program and that prevented fatalities are the clear result.
Read More →
Indiana Dealership Changes Hands
The Chicago-area CDJR store has been in business for nearly 70 years and is now part of a fast-growing automotive group spread across six states.
Read More →
Survey Shows What Technicians Want
Data gathered by the ASE Training Managers Council shows that service technicians prefer classroom or instructor-led training and hands-on lab work over online or self-led training.
Read More →
Holman Opens New Lexus Dealership
Located in the heart of Clark County, Lexus of Vancouver features a multi-level showroom, more than 30 service bays, an indoor drive for drop-off and pick-up and a fleet of courtesy vehicles.
Read More →