US electric vehicle sales reached record numbers in July 2025, increasing by 29% compared to last year, driven by price reductions and major promotional offers from automakers.
Record EV Sales in July
In July 2025, 129,977 new EV sales were recorded, marking a 29% increase from the same month last year. This achievement is partially attributed to high demand before the expiration of the $7,500 tax credit.
Manufacturers' Response to Tax Credit Cuts
Tesla was among the first to reduce prices on its EVs, offering discounts up to $5,000 on popular models like the Model Y. Other automakers such as Ford and Hyundai also offered various incentives to attract buyers.
Overall Situation in the EV Market
According to Cox Automotive, the average transaction price for new electric vehicles in the US decreased by 11% to $53,469. At the same time, used EV sales set records, increasing by 38% year-over-year.
The electric vehicle market shows significant growth; however, further changes in tax credit policies may impact the sustainability of this trend.
