Used EV Market Shoots Up
Many consumers shift from new for affordability, though some brands have robust new-EV sales month.

Tesla increased its new-EV U.S. market share in April by about four percentage points and topped used sales.
Pexels/Kindel Media
Sales of new electric vehicles dipped in April while used EV deliveries moved in the opposite direction as shoppers looked for deals.
The new-EV market decline wasn’t across the board, as some brands actually experienced significant sales increases, according to Cox Automotive research. The EV growers included General Motors, Nissan and Tesla.
But overall new-unit sales fell 6% from April and from a year earlier to a little more than 100,000 units as consumers grappled with both affordability and availability, Cox said. It nevertheless noted a slight market share increase to 7%. The average transaction price was accordingly flat at $59,255.
Tesla, which has taken sales hits in various markets, including Europe and California, increased its U.S. market share about four percentage points on the strength of the Model Y, though it stayed under 50%.
GM’s new-EV sales rose two percentage points to a 14% market share.
As new-model sales fell, used-EV volume increased 14% month-over-month and a whopping 61% year-over-year to nearly 38,800 units. The market share rose to 2%, its highest point so far this year.
The average used-EV transaction price actually fell month-to-month by about 3% to $35,874, though that’s up 4% year-over-year.
Tesla topped used sales, increasing its market share about five percentage points to 47%, Cox said. Chevrolet and Ford followed with 9% and 6% shares.
The two EV segments’ days’ supply also headed in opposite directions based on their sales results, though inventory varied by brand.
New-EV inventory increased 4% to 99 days, though that’s down 20% year-over-year.
Used supply, meanwhile, was about flat from April and a year earlier to 37 days.
“As used EVs remain an attractive option, inventory will continue to tighten,” Cox said.
Originally posted on F&I and Showroom
More Industry

Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
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 →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
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 →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →