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U.S. consumers bought 262,649 new electric vehicles in the third quarter, marking two consecutive quarters of growth, according to Cox Automotive. Sales remain below last year’s pre-incentive-expiration record, but Cox says high gasoline prices could sustain the rebound as automakers introduce more affordable and improved models. The outlook is not certain: fuel prices may ease, and the source does not provide a sales forecast or details on how long current conditions will last.
U.S. new electric-vehicle sales grew for a second consecutive quarter, with consumers buying 262,649 EVs in the third quarter, according to Cox Automotive data cited by Canary Media. The rebound follows a sales slump after federal purchase incentives expired, and Cox says high gasoline prices may help keep demand growing, though sales remain well below the level recorded during last year’s rush to claim the credits.
The third-quarter total was far below the 437,487 new EVs sold in the same quarter last year, when buyers rushed to purchase vehicles before federal tax credits expired, according to the report. The figures show a return to quarter-on-quarter growth, not a recovery to the previous record. The source does not give the exact growth rate between the two most recent quarters.
Gasoline prices above $4 a gallon are a key part of the explanation offered in the report. It says prices had remained above that national average for months, making EVs less expensive to operate than gasoline-powered cars even when owners use costly public charging. Cox Automotive expects sales growth to continue while fuel costs remain high, but that expectation is an outlook, not a guarantee.
The improvement is also appearing in the used market. Cox reported 44,350 used EVs sold in August, up 26% from July and 15% from a year earlier. The report points to Ford’s discontinued F-150 Lightning as a notable resale-market vehicle: analysts cited there say its original new-car price limited demand, while lower used prices make it a more appealing deal. The figures do not establish how much of the broader used-EV increase came from the Lightning.
Fuel Costs and New Models Support Demand
The sales increase matters because it suggests U.S. EV demand has not remained at the low point that followed the end of federal purchase incentives. If growth continues, it could give automakers a firmer basis for selling and developing electric models even without those credits. But the current sales total remains substantially below the prior-year third-quarter record, so the data alone do not establish that the market has entered a lasting expansion.
High gasoline prices are a short-term influence, and they can change. The report’s longer-term case rests partly on product changes: it cites Ford plans for a more affordable electric pickup, a faster-charging Subaru electric SUV and a lower-priced version of Rivian’s SUV. Those developments may broaden the choices available to buyers, though the source provides no price comparisons, sales results for the models, or evidence that they will reach enough customers to sustain growth.
For consumers, the balance between purchase price, fuel costs, charging access and the availability of a suitable model will shape the decision. The used-market figures also suggest some buyers are finding lower-cost entry points, but they do not answer whether used EV prices or supply will remain favorable.
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After Incentives, Sales Find a Floor
The recent sales pattern follows a sharp change in buying incentives. Federal tax credits had supported purchases of some EVs, and the report says sales fell after those incentives ended. Before their expiration, buyers helped push third-quarter sales to 437,487 vehicles last year. That exceptional quarter is a useful comparison point, but it reflects purchases brought forward by the deadline as well as underlying demand.
The new figures indicate two consecutive quarters of growth after the downturn. They do not, by themselves, show whether demand has returned to its earlier trajectory or whether buyers accelerated purchases in response to fuel prices. The report also notes a wider market backdrop: Benchmark Mineral Intelligence recorded nearly 600,000 EV purchases in Europe in September, a record monthly total for the continent, while global EV sales rose 17% from August to September. Those are separate regional and global measures, not evidence that U.S. sales rose by the same rate.
On the supply side, the report describes a mix of vehicles due to improve or broaden the U.S. lineup. It says cheaper Chinese EVs are not available in the U.S., while domestic and other automakers are developing new options. The examples point to potential changes in price and charging performance, but the source does not give launch dates or projected U.S. sales for each model.
“The growth is likely to continue as gas prices show no sign of going down soon.”
— Cox Automotive, as described in the report
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How Durable Is the Sales Recovery?
The source does not specify the calendar year for its “third quarter of this year” sales figure, so the timing cannot be dated more precisely from the supplied material. It also provides no forecast period, model-by-model sales projections or detailed breakdown of which vehicles drove the new-EV increase.
It remains uncertain whether gasoline prices will stay above $4 a gallon, how quickly automakers’ newer models will reach buyers, and whether those vehicles will be priced affordably enough to expand demand. The source argues that growth is likely to continue, but its cited data cover only recent quarters and one month of used-EV sales. They cannot confirm that the market’s boom-and-bust pattern has ended.
The reported sales figures do not explain how much demand is driven by operating-cost savings, model availability, purchases made before incentives expired, or other factors. Nor does the source provide a comparable breakdown of EVs and gasoline vehicles’ total ownership costs, including purchase price, insurance and charging.
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Next Sales Reports Will Test the Outlook
Future quarterly sales data will show whether the two-quarter rise continues and how the totals compare with last year’s incentive-driven peak. Further monthly used-EV figures can indicate whether the August increase was sustained, though one month’s change should not be treated as a longer-term trend.
Buyers and automakers will also be watching gasoline prices and the release, pricing and performance of the newer EVs cited in the report. The source gives no specific launch dates for these models and no date for Cox Automotive’s next update. Until those details and later sales results are available, the durability of the rebound remains an informed forecast rather than a settled outcome.
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Key Questions
How many new EVs were sold in the U.S. in the third quarter?
262,649 new EVs were sold, according to Cox Automotive data cited by Canary Media. The supplied source does not specify the calendar year.
Are U.S. EV sales back to last year’s record?
No. The latest reported total was below the 437,487 new EVs sold in the third quarter of the previous year, when buyers rushed to purchase vehicles before federal tax credits expired.
What is helping EV sales rise?
The report points to elevated gasoline prices, which can make EVs less expensive to operate, and to new or improved electric models. Cox Automotive’s view that sales growth will continue is an outlook, not a confirmed result.
Are used-EV sales rising too?
Yes, in the reported August figures. Cox Automotive counted 44,350 used-EV sales, up 26% from July and 15% from a year earlier. The source does not establish whether that increase continued in later months.
Is the EV sales recovery certain to last?
No. Recent growth is confirmed in the figures cited, but its duration is unclear. Fuel prices, model availability and vehicle pricing will affect demand, and the source offers no data proving that the rebound will continue.
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