MENU
SEARCHAchieve greater market share in nearly year-long streak of strong sales.
The Honda Prologue was one of just two non-Tesla models among the top-five best-selling new EVs in January.
Honda
Electric vehicles achieved their highest-ever U.S. market share in January, according to Cox Automotive data, despite volume down from a holiday season spike in December.
EVs reached 9% of new-vehicle sales last month at a little more than 102,000 units, up a dramatic 30% year-over-year and the 10th consecutive month at more than 100,000 units, Cox said. December marked the highest volume historically.
Used EV sales also jumped in January, according to the Cox data, up about 4% month-over-month and 31% year-over-year to nearly 27,000 units or the second-highest volume historically. Their market share was about 2%.
Supply of new EVs rose 5% month-over-month to 87 days, though that’s down 35% year-over-year, indicating better turnover, Cox said.
Meanwhile, used EV supply fell 3% month-over-month and 23% year-over-year to 45 days. Cox says their better affordability, tax incentives and battery warranties likely help move the used units. Their average listing price last month was $37,476, down 5% year-over-year, while the average transaction price for a new EV was $55,614, down just 1% year-over-year.
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Recent survey data shows that the overall demand for auto loans is down, but the demand for subprime loans is up as consumers face economic uncertainty and affordability pressures.
Read More →
The Mitsubishi location moves from one Texas automotive group to another, continuing this year’s spate of brisk buy-sell activity.
Read More →
As part of its 2030 business plan, Mitsubishi's North America arm will soon open its first 'gallery' store in Tennessee, where customers can learn about the brand, vehicles and technology.
Read More →
Just weeks before President Trump is set to meet with the Chinese president, two U.S. senators proposed a bill with the aim of protecting Americans’ data.
Read More →
A study of Q1 used-vehicle sales shows many consumers are looking to minimize fuel costs but aren’t willing to go all electric and no longer have a tax break incentive to do so.
Read More →
A recent study suggests expectant parents are feeling the burden of bad credit more than other demographics when it comes to buying a new car.
Read More →
Dealers should aim to build a positive work environment, helping employees execute an efficient experience, from their online research to the final delivery of the vehicle.
Read More →