On the Dash:
- December EV sales rebounded, with 84,294 new units and 28,579 used units sold, despite Q4 declines following incentive rollbacks.
- Tesla remains the dominant player, accounting for nearly half of all U.S. EV sales, while GM and Rivian continue to grow their market presence.
- Elevated inventory, high incentives, and new model launches are shaping the market for 2026, with EV share expected near 8% of total U.S. vehicle sales.
The U.S. electric vehicle (EV) market closed 2025 on a positive note, with both new and used EV sales rising in December, according to data from Cox Automotive. Elevated new-vehicle inventory and steady used-vehicle supply contributed to a market environment shaped by incentives and competitive offerings. Pricing remained largely stable, with heavy discounts on new EVs helping offset softer retail momentum.
New EV Sales
December new-EV sales totaled an estimated 84,294 units, down 38% from a year earlier but up 14.4% from November. The EV share of total new-vehicle sales held steady at 5.7%. Tesla led the market with 48,300 units, followed by Ford (5,052), Cadillac (3,919), Rivian (3,606), and Hyundai (3,135). Tesla’s sales rose 6.1% month over month, though market share fell to 57.3% from November’s 61.8% as competitors rebounded. Lucid achieved its best monthly performance of the year, delivering 2,415 units, a 146% increase from November.
Used EV Sales
Used EV sales reached 28,579 units in December, up 10.2% year over year and 9.7% from November. Tesla again dominated with 10,837 units, followed by Ford, Chevrolet, BMW, and Nissan. Tesla’s Model 3 and Model Y led the top five used EV models, with the Mustang Mach-E ranking third. BMW posted the strongest month-over-month growth among top brands at 18.6%.
Inventory and pricing
At the start of January, new EV days’ supply was 130 days, a 73% increase from a year earlier, though it fell 22% month over month in December. Used EV days’ supply reached 50 days, up 6% year over year and remaining below internal combustion vehicle levels for the ninth consecutive month.
The average transaction price for new EVs in December was $58,034, slightly down month over month. Incentives climbed to a record $10,473 per vehicle, narrowing the price premium over comparable ICE vehicles to $8,347. Used EV listing prices held steady at $36,408, with affordability options such as the Nissan Leaf remaining below $12,000.
Looking ahead
While total EV sales fell sharply in Q4 following the end of government-backed incentives, 2025 remains the second-best year on record with nearly 1.3 million units sold. Tesla continues to lead, though General Motors gained ground, selling more than 150,000 EVs, up 48% from 2024.
Cox Automotive expects EV market share to hover near 8% in 2026, supported by new model launches including the Chevrolet Bolt, Rivian R2, and BMW iX3. Rising infrastructure availability, continued battery improvements, and strategic incentives are expected to sustain consumer interest, while policy shifts leave market growth largely in the hands of automakers and buyers.
