Electric vehicles achieved their highest-ever U.S. market share in January, according to Cox Automotive data, despite volume down from a holiday season spike in December.
EVs reached 9% of new-vehicle sales last month at a little more than 102,000 units, up a dramatic 30% year-over-year and the 10th consecutive month at more than 100,000 units, Cox said. December marked the highest volume historically.
Used EV sales also jumped in January, according to the Cox data, up about 4% month-over-month and 31% year-over-year to nearly 27,000 units or the second-highest volume historically. Their market share was about 2%.
Supply of new EVs rose 5% month-over-month to 87 days, though that’s down 35% year-over-year, indicating better turnover, Cox said.
Meanwhile, used EV supply fell 3% month-over-month and 23% year-over-year to 45 days. Cox says their better affordability, tax incentives and battery warranties likely help move the used units. Their average listing price last month was $37,476, down 5% year-over-year, while the average transaction price for a new EV was $55,614, down just 1% year-over-year.
