auto dealer in black and red logo
MenuMENU
SearchSEARCH

EV Sales Skyrocket in Q2

US auto retailers sold 300,000 new EVs, an increase of 48.4% year-over-year and a record for any quarter.

July 13, 2023
EV Sales Skyrocket in Q2

Cox Automotive forecasts the U.S. will welcome one million new EVs in 2023.

Credit:

Ed Harvey, Pexels

2 min to read


 

Though the U.S. sold a record number of full battery-electric vehicles in the second quarter, Cox Automotive predicts dealers will fight to maintain that momentum.

According to Cox, U.S. auto retailers sold 300,000 new EVs, an increase of 48.4% year-over-year and a record for any quarter. U.S. EV share  was 7.2%, up from 5.7% but down from the first-quarter high of an upwardly revised 7.3%.

Overall, Cox expects the country to welcome one million new EVs to its roads this year.

However, the data provider also reports that in late June, day’s supply of EVs jumped to over 100 compared to the industry average of 53 for internal combustion engine vehicles.

That leads Cox to predict that collaboration across many parties will be necessary to push EV sales.

“Building EVs is one thing, and many in the industry are proving excellent at that skill. Selling EVs is something different altogether,” Cox Automotive writes in “Electric Vehicle Sales in Q2 Strike Another Record, but Growth Ahead Will Be Hard Fought.” “Yes, EV sales records will continue to be set, and EV growth will continue to outpace overall industry growth, but the days of 75% year-over-year growth are in the rearview mirror. The hard-growth days are ahead.”

Cox also reported the following EV sales highlights for the second quarter:

  • Tesla remained the top seller in the U.S., selling over 175,000 units, a 34.8% increase from the previous quarter.

  • Tesla and other car manufacturers' price cuts and above-average incentive levels helped drive EV sales.

  • The average price paid for an EV was down nearly 20% year-over-year in June.

Tesla’s share of U.S. EV sales fell below 60% for the first time. Still, Chevrolet came in as a distant second. In fact, Tesla outsold Chevrolet 10 to one. Ford took third place in EV sales, while Hyundai came in fourth. Newcomer Rivian sold over 20,000 units.

Modelwise, one of every three EVs sold last quarter was a Tesla Model Y. Tesla's Model 3 sales, when combined with Model Y sales, constitute 50% of the U.S. electric vehicle market. The Model S, which was once the leader among high-end EVs, lost its top spot. In the super-luxury EV sedan market, the BMW i4 EV sedan is now the leader, having sold 6,777 units in the quarter.

More Dealer Ops

Dealer Opsby StaffSeptember 8, 2025

Cox Automotive Acquires Inspection Firm

Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities

Read More →
Dealer Opsby StaffAugust 26, 2025

Assurant Expands Partnership With Holman

Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships

Read More →
Dealer Opsby Hannah MitchellAugust 26, 2025

Franchises, Throughput Down in First Half

A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.

Read More →
Ad Loading...
SalesAugust 25, 2025

How to Build a High-Performance Sales and F&I Team

Performance and profits start with people chosen and led the right way.

Read More →
Dealer Opsby Hannah MitchellAugust 19, 2025

Buy-Sells Up in Q2

Kerrigan metrics show there’s plenty of demand, though many sellers are waiting to pull the trigger.

Read More →
Graphic for July 15, 2025 webinar “Driving Directions to Your Secure Auto Destination,” listing vehicle theft, vandalism, insurance losses, and other security risks with a laptop meeting image.
Dealer Opsby StaffAugust 14, 2025

Webinar Gives Driving Directions for Vehicle Security

Free on-demand session shares solutions for securing vehicle storage and parking facilities.

Read More →
Ad Loading...
Dealer Opsby Hannah MitchellAugust 7, 2025

Own Your Missteps

We all mess up from time to time, but it’s how we address the mistakes that really matters.

Read More →
Jennifer Rappaport, CEO of EFG Companies, stands in a conference room wearing a bright pink suit, with the EFG logo visible on the wall behind her.
Dealer Opsby StaffAugust 1, 2025

Top Questions From Dealers Reflect State of Industry

EFG Cos. says challenging times demand sound counsel during second half of 2025.

Read More →
Dealer Opsby StaffJune 18, 2025

TSD Mobility, Canopy Connect Partner to Ease Insurance Verification

The new integration is intended to bring streamlined functionality to rental agents and dealerships.

Read More →
Ad Loading...
F&Iby StaffApril 2, 2025

DOWC Powers the Future of F&I for NESNA

Company is providing a fully integrated F&I administration model to Nissan Extended Services North America’s dealer network.

Read More →