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U.S. EV Sales Surge 14%, Used Market Soars 65%

1/23/2025

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Summary

Story summary

In December 2024, U.S. electric vehicle (EV) sales increased by 14%, totaling 132,392 units and capturing an 8.8% market share.
Used EV sales surged 64.8% year-over-year, reaching 28,483 units and holding a 1.9% market share.
The average price for new EVs was $55,544, while used EV prices decreased to $36,976.
New EV supply fell below that of internal combustion engine vehicles for the first time in two years.

History

Historical Context

The surge in U.S. electric vehicle sales mirrors the 1970s oil crisis, which spurred interest in alternative energy sources. Just as then, consumer demand for EVs today reflects a growing awareness of energy independence and environmental sustainability, reshaping the automotive landscape and market dynamics.

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Story summary

In December 2024, U.S. electric vehicle (EV) sales increased by 14%, totaling 132,392 units and capturing an 8.8% market share.
Used EV sales surged 64.8% year-over-year, reaching 28,483 units and holding a 1.9% market share.
The average price for new EVs was $55,544, while used EV prices decreased to $36,976.
New EV supply fell below that of internal combustion engine vehicles for the first time in two years.

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