US EV Sales Jump 20% in July - CleanTechnica

In July 2024, U.S. electric vehicle (EV) sales surged by 20% year-over-year, surpassing 130,000 units and marking the second-highest monthly EV sales figure in U.S. history, as reported by Kelley Blue Book (KBB). This strong performance also represents the highest mid-year sales month ever recorded. The increase is attributed to a consistent upward trend in EV adoption, accelerated by the impending expiration of the federal EV tax credit on October 1, which has prompted a rush of buyers seeking to take advantage of incentives before they end. Additionally, EV prices dropped significantly in July, with average incentive packages reaching 17.5% off the average transaction price (ATP), a record high and a 40% increase year-over-year. This aggressive discounting by automakers and dealers, including a notable $5,000 reduction in Tesla’s ATP, helped stimulate sales. A Cox Automotive senior analyst highlighted that the urgency created by the sunset of government-backed