On the Dash:
- Used EV sales rose 12.3% month over month and 21.2% year over year to an estimated 47,862 units, reaching a record 3.3% share of used-vehicle sales.
- New EV inventory fell to 68 days of supply and used EV inventory dropped to 35 days, both below comparable ICE+ supply levels.
- The average used EV listing price fell 1.8% to $36,767 from August, narrowing the price premium over ICE+ vehicles to $2,137 and improving relative affordability.
According to Cox Automotive’s September EV Market Monitor, used EV sales rose 12.3% from August and 21.2% from a year earlier to an estimated 47,862 units. Used EVs made up a record 3.3% of total used vehicle sales, up from 2.9% in August, while sales of ICE+ vehicles fell 4.4%. According to Cox, a growing flow of off-lease EVs continues to support used EV sales and availability.
Meanwhile, new EV sales accounted for an estimated 86,632 units, down 0.8% from August and 40.7% from a year earlier. That annual drop reflects a high comparison, since September 2025 sales reached 146,076 units. Even so, EV share of new vehicle sales rose to 6.5% from 6.3% in August, while ICE+ sales fell 5%. Tesla led the market with 48,367 units, up 1.7% from August, followed by Rivian, Cadillac, Toyota and Kia.
Notably, Cadillac’s sales climbed 21.5% as OPTIQ and LYRIQ sales rose, while Kia’s sales grew 21.8% as EV9 and EV6 sales increased and the EV3 joined its lineup.
Tightening EV inventory
Per the report, new EV days’ supply fell 7.4% to 68 days from August, while ICE+ supply rose 4.8% to 78 days. Used EV supply fell 16.7% to 35 days, down from 46 days for ICE+ vehicles, which rose 2% from August. Both gaps were the largest EV-to-ICE+ supply gaps in 2026, at 10 days for new vehicles and 11 days for used vehicles. Subaru had the leanest new EV inventory at 15 days, while Tesla had the tightest supply among major used EV brands at 27 days, rising as year-over-year declines in incentives shrank.
The average transaction price (ATP) for a new EV rose 2.3% to $55,842 from August, but remained 3.1% below its year-ago level. The EV price premium over ICE+ vehicles widened to $5,611, up from $4,833 in August, but remained well below the 2025 average of $8,665. Incentives also declined to 11% of the average transaction price, or roughly $6,117 per vehicle, the lowest level in 2026. Higher prices for Tesla’s two best-selling models and a richer sales mix drove the increase.
Meanwhile, used EV prices continued to ease. The average listing price for a used EV fell 1.8% to $36,767 from August but remained 6.4% above a year ago. The premium over ICE+ vehicles narrowed to $2,137, or 6.2%, from $2,692 in August. Lower prices for the Nissan Ariya, Cadillac LYRIQ, BMW iX and Chevrolet Blazer EV pulled the average down, even as Tesla’s average listing price rose 1.4% to $33,470.
