Overview of August 2026 EV Market
August demonstrated continued growth in the electric vehicle (EV) market, with an increase in both new and used EV sales compared to July. Inventory levels are moving closer to those of internal combustion engine (ICE+) vehicles, while the availability of off-lease vehicles is boosting used EV options.
New and Used EV Sales
New EV Sales
- Total Units: 78,895 (up 2.5% from July, down 46.9% year-over-year)
- Market Share: 5.7% of total new-vehicle sales
- Leading Brands:
- Tesla: 40,816 units (51.7% of EV sales, down 3.8% from July)
- Toyota: 4,964 units (up 34.9%)
- Other notable gains: Chevrolet (+30.3%), Cadillac (+13.1%), Kia (+12%).
Used EV Sales
- Total Units: 44,350 (up 25.9% month-over-month, 14.7% year-over-year)
- Market Share: 2.8%
- Leading Brands: Tesla, Ford, Hyundai, BMW, Chevrolet.
- Key Growth: Used Tesla sales increased by 26.5% from July, comprising nearly 30% of total used EV sales.
Days’ Supply of EV Inventory
New EV Days’ Supply
- Current Supply: 78 days (down 9.6% from July, up 24% year-over-year)
- Observations: Inventory sits close to ICE+ levels, with Subaru having the lowest supply at 26 days.
Used EV Days’ Supply
- Current Supply: 42 days (down 15.4% from July, up 20.2% year-over-year)
- Market Conditions: Supply demand has balanced, with healthy demand across brands.
EV Pricing Trends
New EV Average Transaction Price (ATP)
- Price: $54,754 (down 1.3% month-over-month, 2.8% year-over-year)
- Incentives: Average 12% of ATP (approx. $6,594 per vehicle).
- EV Premium Over ICE+: $4,847, or 9.7%.
Used EV Listing Price
- Average Price: $37,441 (down 1% month-over-month, up 8.2% year-over-year).
- EV Premium Over ICE+: 7.8%.
Looking Ahead
As the impact of tax-credit-driven sales wanes, focus will be on whether current improvements in the EV market can be sustained. Monitor inventory levels, pricing, and the market’s capability to absorb growing used EV supplies.
For further insights and to access the full report, visit the EV Market Monitor.
