EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.

EV inventory was slightly above gas-powered model supply in July at 80 days for new and 46 for used as supply met demand.
Pexels/Magda Ehlers
U.S. electric-vehicle sales rose in July, though new EV deliveries were well off a year earlier when consumers rushed to buy before federal tax credits were eliminated.
New EV sales were up 3% from June to nearly 6% of all new-vehicle sales, though that was down about 42% year-over-year, Cox Automotive reported.
Used sales rose 8% month-over-month to almost 2½% of the used market. That was up 10% from last July as off-lease returns and trade-ins padded supply.
EV inventory was slightly above gas-powered model supply at 80 days for new and 46 for used, according to Cox.
Prices for new and used EVs diverged for the month. The average listing price for new units ticked up 3% to $56,523 while incentives declined. Meanwhile, the used average fell 1% to $37,832.
Tesla led new and used EV sales for the month as its share of the new EV market rose about 5% from June to 55%, its Model Y making up about 37% of all new EV deliveries and more than any other EV maker’s full lineup, according to Cox data.
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