New, Used EV Sales Spike in October
U.S. dealers sold 106,155 new EVs and 23,788 pre-owned EVs in October, according to Cox Automotive’s latest EV Market Monitor report, which includes sales volume, inventory levels, transaction prices and listing prices for hybrid and battery-electric vehicles.
New EV sales passed the one-million-unit mark for 2024 while improving by 6.8% year-to-date. The used EV market improved by a remarkable 63.5% year-to-date. New EV inventories improved by 6.3% month-over-month but fell 9.4% year-over-year.
“Meanwhile, the average transaction price for new EVs has slightly decreased and used EV prices are nearing parity with those of traditional vehicles despite fluctuations in the price premium,” analysts noted.
