US EV sales set another record in August with 146,332 EVs sold, according to the latest tracks from Cox Automotive’s Kelley Blue Book.
That gave EV sales in August a share of 9.9% of the total sales of new cars, up from 9.1% in July and the highest yet. With the federal EV tax credit to expire on September 30, analysts say the Q3 2025 is formed to be the strongest quarter of EV sales in the US history. The current record holder is Q4 2024, where 365,824 EVs were sold.
Prices also crossed higher. The average transaction price (ATP) for an EV in August was $ 57,245, 3.1% more than July’s revised lower ATP of $ 55,562. However, the EV prices were basically flat, only 0.1%down. The wave of EV sales also helped push up the overall market ATP.
Incentives, though not as high as July’s record, remained fierce. EV buyers received discounts on average over $ 9,000 in August, equivalent to 16% of ATP. That’s more than twice the incentive rate in the total car market and up from 13.6% a year ago.
Tesla, still the American EV sales leader, is far under pressure. Its ATP rose 2.9% in August to $ 54,468, which was still down with 5.5% year-over years. Sales of Tesla fell 6.7% year-over years and the company’s share of the US EV market slipped to 38%-the lowest point ever.
Stephanie Valdez Streaty, senior analyst at Cox Automotive, said: “One constant in the automotive industry is that the fresh product sells well. While Tesla’s model Y-update has slowed down the company’s sales decline, it doesn’t get easier for the EV pioneer because the market is now flooded with all new, fresh EVs from the main stream rates have more choices. The current power innovation, motivated dealers and an urgent prior to IRA tax credit phaseing.
Read more: Tesla leads price cuts like us EV sales after 2nd best month ever
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