- EVs made up a higher percentage of America’s car purchases in June than in May
- Sales slowed, but the overall market slowed more
Electric vehicles made up 6.9% of the new cars Americans bought in May. In June, that figure grew to 8%.
We didn’t buy more EVs last month. We bought 1.4% fewer. However, overall, car sales slowed further, meaning that EVs made up a larger piece of a shrinking pie.
It’s likely a preview of what will happen from late summer into early fall. A recently passed bill will end the federal government’s $7,500 EV tax credit after September. Analysts from Kelley Blue Book parent company Cox Automotive predict that EV sales will accelerate as the credit’s end gets closer.
Then, they’ll fall back to Earth before stabilizing at a lower level without government support.
Chevrolet, Kia Win Big, Tesla Posts a Slight Improvement
Chevrolet and Kia were the big winners in June EV sales. Chevy saw its EV sales grow 24.4% during the month, keeping it in a solid second place behind longtime market leader Tesla.
Kia saw a bigger rally, with its sales jumping 48.2% after a slow spring.
Tesla sales increased 2.9% in June after several months of double-digit slides. The brand has been in the news less since CEO Elon Musk left a controversial role in government, which may have helped its reputation.