MENU
SEARCHSegment 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.
Originally posted on Auto Dealer Today
Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.
Read More →
Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.
Read More →
Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.
Read More →
Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.
Read More →
Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.
Read More →
The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.
Read More →
Last week's wholesale automotive auction activity continued in a healthy mode, though buyers practiced selectivity.
Read More →
CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.
Read More →
JD Power analysts see auto retail faring this year’s storms well through various means, though it acknowledges conditions are challenging to accurately predict.
Read More →
Car insurance premiums have continued to decline so far this year, the overall national average settling at $138 per month in March, according to Insurify data.
Read More →