
New electric vehicle sales fell in February, while the used market grew, supported by falling prices and tight inventory.
In February, the electric vehicle market showed mixed signals: new EV buyers pulled back, while the used segment gained momentum, supported by falling prices and inventory adjustments.
New EV Sales in February: Numbers and Nuance
New EV sales were around 69 thousand units, a 27% drop compared to the same month last year. Compared to January, there was a 5.8% increase, representing approximately 5.8% of total new vehicle sales.
Those who bought new EVs paid less than in the past. The average price settled at US$ 55,300, narrowing the gap with gasoline cars. Incentives averaged US$ 7,870 per vehicle, corresponding to just over 14% of the average transaction price.
Tesla Still Leads, Rivals Gain Ground
Tesla maintained leadership, selling about 38,500 units, but its share dropped 4% month-over-month. Rivals began regaining space in buyers' consideration.
- Chevrolet registered a strong month, with demand up 70% compared to January.
- Hyundai and Toyota also advanced, while Ford and Nissan lagged behind the EV average.
Rising Used Market
Meanwhile, the used sector is experiencing a turning point. Sales grew almost 29% year-over-year, totaling nearly 31 thousand units.
The average price for used EVs dropped to just under US$ 35,000, a decrease of over 8% compared to the previous year, making many models more attractive compared to their gasoline equivalents.
Inventory and Comparison with Gasoline Cars
The inventory of used EVs is becoming tighter: currently, there are about 42 days of inventory circulating, fluctuating to stand slightly above the levels for gasoline vehicles for the first time in nearly a year.
In summary, the trend suggests that some demand has shifted from new to used vehicles, with the discounting environment maintaining electric consumer interest.
What do you think about this transition? Leave a comment with your reading: is this change long-lasting or just a short-term correction?






