Canadian dealers keeping tabs on the U.S. electric vehicle market will have found signs of rebalancing in August, with used EV sales posting a sharp increase and inventories moving closer to levels seen among other vehicles.
That’s according to Cox Automotive’s latest EV Market Monitor, which also found used EV sales reached 44,350 units — up 25.9 per cent from July and 14.7 per cent from August 2025. Cox said growing off-lease returns are expanding the pool of available used EVs, while EVs accounted for 2.8 per cent of used-vehicle sales.
Nearly 30 per cent of used EVs sold during the month were Teslas. Nissan recorded a 45.1 per cent month-over-month increase, followed by Cadillac at 37.7 per cent and Kia at 32.1 per cent.
Used EV days’ supply fell 15.4 per cent from July to 42 days, reaching parity with ICE+ vehicles for the first time this year. However, supply remained 20.2 per cent higher than a year earlier.
New EV sales also increased, reaching an estimated 78,895 units, up 2.5 per cent from July but down 46.9 per cent year over year. Cox noted that August 2025 had set a U.S. record for new EV volume. EVs represented 5.7 per cent of new-vehicle sales in August.
Tesla remained the largest EV seller with 40,816 units, although its share slipped to 51.7 per cent. Toyota sales climbed 34.9 per cent from July to 4,964 units.
Pricing also moved closer to the broader market. The average transaction price for a new EV fell 1.3 per cent from July to US$54,754, leaving EVs with a 9.7 per cent premium over ICE+ vehicles.
