EV Sales Hit Quarterly Record in 3Q: Cox, Kelley
Electric vehicle sales in the U.S. raced to an all-time quarterly high in the three months ending September, according to a Cox Automotive report based on Kelley Blue Book estimates.
The sale of 438,487 EV units nationwide beat the previous record set in late 2024 by nearly 20%, according to Cox.
EVs accounted for more than 10% of all vehicle sales in the third quarter, according to the report. Volkswagen, General Motors, Honda and Hyundai all achieved sizable market gains in the EV segment.
Tesla, considered the industry leader for so long, still dominates the total EV picture but saw its share fall dramatically to 41% based on the third quarter sales volume involving other automakers. The company’s Models Y and 3 still dominate units sold of models, ahead of the GM’s Chevrolet Equinox, reads the Cox Automotive report.
What comes next is what intrigues automobile industry observers both inside and outside the EV sector. The New Clean Vehicle Credit, which has provided incentives and tax breaks for buying EVs and hybrids for years, has ended due to sweeping away of clean energy programs under the One Big Beautiful Bill Act.
Incentives made buying EVs more attractive for consumers, and the sunset of the credit after Sept. 30 surely increases deadline sales.
“The training wheels are coming off,” Cox Automotive’s Director of Industry Insights Stephanie Valdez Stready said in the report. “The federal tax credit was a key catalyst for EV adoption, and its expiration marks a pivotal moment. This shift will test whether the electric vehicle market is mature enough to thrive on its own fundamentals or still needs support to expand further.”
EV-ready dealerships are expanding inventory unless the sales figures recede. To find out more about how those dealerships can access on-site distributed and microgrids to power EV charging infrastructure, check out this EnergyTech webinar on “Grid to Garage: Smarter Energy Systems for EV-Ready Dealerships” with Schneider Electric and Sprocket Power.