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

Two New Rides Earn Safety Awards
Thanks to vehicle redesigns, two more vehicles have earned IIHS’ Top Safety Pick+ award that builds on the criteria of the lower Top Safety Pick award.
Read More →
How A Simple Phone Call Can Cause a Dealership Data Breach
Despite the sophisticated techniques fraudsters often employ today to gain access to dealerships’ valuable information, they sometimes use a somewhat old-fashioned approach.
Read More →
Texas Rooftop Gets New Owner, Name
Family-owned Lumos Auto Group acquired Acura of the Rio Grande Valley from Bill Bird and will operate the dealership as Lumos Acura.
Read More →
Hyundai Feeling Electric
As the automaker looks to the balance of the decade, it plans to significantly boost its electrified powertrain lineup, including more hybrids and its first extended-range EVs.
Read More →
Dealer Debrief: Luxury Brands are Losing Ground
The quality gap between luxury and mass-market auto brands is narrowing. Today, Lauren is discussing why.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
Longtime Ford Store Changes Hands
The Virginia dealership joins a small area automotive group in a one-dealership transaction, moving from one family franchisee to another.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
ASE Seeks Accurate Technician Pay, Benefits Data
New free membership trial removes cost barrier for dealerships and shops willing to contribute anonymous information to the industry data exchange.
Read More →
No Longer Worth the Price?
Mass-market auto brands are gaining ground on luxury competitors with what used to be premium features, helped along by the pressure of high vehicle prices dogging budget-conscious shoppers.
Read More →
