In May 2025, the U.S. electric vehicle market revealed contrasting patterns between new and used sales. New EV sales rose 4.2% from April but were down 10.7% year over year, indicating persistent industry headwinds despite steady monthly progress. Conversely, used EV sales surged 32.1% compared to last year, with a modest 1.1% increase from the previous month, highlighting growing consumer interest in affordable pre-owned options. Inventory trends also diverged: new EV supply rose 8% month over month, while used EV supply tightened to its lowest level since June 2022. Price shifts reflected this demand imbalance—new EV average transaction prices declined 2.3% month over month, while used EV prices ticked up 0.9%. Incentives for new EVs climbed 19.4%, now averaging over $8,200 and representing 14.2% of ATP—more than double the incentive rate for ICE vehicles. Tesla remained dominant in both new and used segments, though affordability leaders like the Chevrolet Equinox EV and Nissan Leaf are helping shift consumer perceptions around value. Advertisers can capitalize on this evolving market by targeting the EV automotive sector, where shifting demand and inventory levels are reshaping consumer purchase behavior.
****Opportunity:
EV Auto Dealerships, Used EV Dealerships, Online EV Vendors
