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Data Point

EV Market Monitor – December 2024

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As December 2024 wrapped up, the U.S. electric vehicle (EV) market continued to reach new milestones. December saw record-breaking EV market share for both new and used EVs, with inventory levels tightening and closing the gap between EVs and ICE+ models. While the average transaction price for new EVs edged up slightly, the average listing price for used EVs dipped, reflecting the current market dynamics.

New and Used EV Sales – December

New EV Sales: In December, new EV sales volume rose by 14% month over month to 132,392 units, achieving a record sales month and market share of 8.8%. December’s strong performance pushed the total annual volume to 1.3 million units. The top five selling models in December, ranked by sales volume, were the Tesla Model Y, Tesla Model 3, Honda Prologue, Ford Mustang Mach-E, and Chevrolet Equinox, together making up 54% of total EV sales for the month.

Used EV Sales: Used EV sales rose to 28,483 units in December, up by 7.4% month over month and 64.8% year over year, achieving a record market share of 1.9%. In 2024, 287,175 used EVs were sold, a 62.6% increase from the previous year. The top-selling models in December were the Tesla Model 3, Tesla Model Y, Chevrolet Bolt, Tesla Model S and Ford Mustang Mach-E.

New and Used EV Days’ Supply – December

New EV Days’ Supply: In December, the supply of new electric vehicles continued to tighten, decreasing by 18.0% month over month. This reduction was driven by strong demand for EVs, which pushed the days’ supply below that of internal combustion engine (ICE+) vehicles for the first time in two years.

Used EV Days’ Supply: The supply of used electric vehicles also continued to tighten, decreasing by 0.6% month over month and 36.0% year over year. The high demand for used EVs, fueled by more affordable prices and increased consumer confidence in their reliability, contributed to this trend.

New and Used EV Prices – December

New EV Average Transaction Price: In December, the average transaction price for new electric vehicles was $55,544, marking a 1.1% increase from the previous month and a 0.8% rise from the previous year. EV incentives were equal to 14.3% of the ATP last month, which was lower than in November when EV incentives were equal to 14.7%. In December, the ATP for a new EV was $6,274 higher than the ICE+ ATP ($49,270), the second-lowest premium in 2024. The top five most affordable EVs in December were the Nissan Leaf, Fiat 500e, Hyundai Kona, Kia Niro and Chevrolet Equinox.

Used EV Average Listing Price: The average listing price for used electric vehicles was $36,976, showing a 1.0% decrease month over month and an 8.9% decrease year over year. Ten brands had listing prices at or below those of their internal combustion engine (ICE+) models. Porsche and Chevrolet had the largest difference in listing prices below their ICE+ counterparts, with Porsche leading the luxury segment at $11,028 below ICE+ and Chevrolet leading the non-luxury segment at $9,212 below ICE+.


The EV Market Monitor gauges the health of the new and used electric vehicle (EV) markets by monitoring sales volume, days’ supply and average pricing. Each metric will be measured month over month and year over year. For a detailed new-EV sales report, see the Q4 Electric Vehicle Report, the official quarterly report of EV data.

Stephanie Valdez Streaty
Director of Industry Insights

As the Director of Industry Insights for Cox Automotive, Stephanie Valdez Streaty is responsible for research and analysis, specializing in the transition to electric vehicles. Her focus is providing insights to clients and the industry on key trends impacting electrification. Previously, Stephanie was the Senior Director of Corporate Responsibility for Cox Automotive, where she was responsible for building and executing the sustainability strategy across the company.

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