The electric vehicle market continues to expand in the U.S., as recent Cox Automotive info reveals a year-over-year rise in sales for both new and used EVs. September marked the sixth consecutive month in which new EV sales surpassed 100,000 units. EV share of new-vehicle sales achieved a notable 9% last month, the highest level to date. The price difference between electric and traditional vehicles narrowed in September, indicating greater accessibility. In the new-vehicle market, EV incentives remain elevated.

Used EV sales demonstrated steady growth, reaching 26,626 units sold and maintaining a 1.7% market share. Used EVs remain a small part of the market and have not exceeded 1.8% of total used-vehicle sales.

Used EV days’ supply is narrowing the gap with the supply of internal combustion engine plus (ICE+) models. In September, used EV days’ supply was 47, while ICE+ was 45.

The average listing price of used EVs slightly increased month over month in September to $37,260, yet it remains down 8.4% compared to the previous year, nearing price parity with ICE+ models.