More than 1 million new EVs have been sold in the U.S. through the first 10 months of the year
Last month, 106,155 new EVs were sold in the U.S., a 2.3% increase year-over-year. Higher incentives and improved leasing options are key factors behind the EV sales surge. The average transaction price for new EVs dropped to $56,902, down 1.2% month-over-month. While the growth in electric vehicle sales has slowed throughout much of 2024, this year is still shaping up to break records for both new and used EV sales across the United States.
This shift, combined with incentives, has helped sustain EV momentum even as broader car sales have slowed. Used EV Market Grows Rapidly The used EV market is experiencing a boom of its own. In October, 23,788 used EVs were sold—a 2.7% increase from September and a staggering 39.5% jump year-over-year. Used EVs now make up 1.6% of the overall used car market. Meanwhile, the average listing price for a used EV in October fell to $37,912, marking a 6.4% decrease compared to the previous year.
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