New and used electric vehicle (EV) sales increased in August compared to July, but the appetite for electric cars in America remains much lower than in most countries.
Cox Automotive, Kelley Blue Book’s parent company, released numbers for new and used EV sales in August. The numbers show that in addition to new and used sales rising, used EV availability expanded due to off-lease returns.
By the Numbers
New EV sales were up 2.5% from July, but down 46.9% from 2025. Buyers were flocking to dealers as the $7,500 federal tax credit was set to expire in September 2025, accounting for the massive year-over-year sales drop. EVs accounted for 5.7% of all new-vehicle sales, the same as July. Globally, the International Energy Agency (IEA) estimates that more than a quarter of new cars sold are now electric.
Tesla led the EV pack followed by Toyota, Rivian, Hyundai, and Cadillac. Tesla’s sales were down 3.8% from July, while Toyota sales were up 34.9% month over month. Sales of the Toyota bZ helped boost sales with a 39.6% increase from July.
Used EV sales increased 25.9% month over month and 14.7% year over year. Tesla, Ford, Hyundai, BMW, and Chevrolet were the top selling used EV sales brands, with Tesla enjoying a 26.5% increase in used cars since July.
Pricing
The average transaction price (ATP) for a new EV declined in August to $54,754, down 1.3% month over month and 2.8% year over year. The EV price premium over gas-powered vehicles narrowed to $4,847, continuing the trend toward price parity.
The average listing price for a used EV was $37,441 in August, down 1% month over month but 8.2% higher year over year. The used EV premium over gas-powered vehicles narrowed to 7.8%.
EV inventory levels are now just two days higher than gas-powered vehicle inventory levels for the first time in months. “Pricing, incentives and the market’s ability to absorb growing used EV volumes will be key indicators to watch in the months ahead,” according to the report.
Read the full August 2026 edition of the EV Market Monitor here.
