Automakers were once struggling to keep pace with demand for some new EVs, but now the opposite appears to be true.
Here are the top 5 fastest and slowest-selling new EVs for 2024are landing on the market all the time now, it seems, though automakers are having to come to terms with fluctuating demand and ever-changing tax credit rules. The good news for buyers out of all of this is that prices are falling as inventory levels grow. That’s the story from, which looked at movement in new and used EV pricing and supplies.
The company found that new EV pricing fell by 8.2% since February 2023, noting a whopping 174% increase in available inventory. Used EVs took a similar trajectory, though their average prices fell by more than 20%, and inventory was only up a little over 27%., electric vehicles remain costlier than their gas-only counterparts. New EVs had a $299 monthly payment premium over gas models, and used EVs were $239 more each month.
. New EVs sat for 107 days, compared to 76 days for new gas models. Used EVs fared a bit better, at 81 days on the market, compared to 84 for used gas models.E-Transit sat the longest, at 159 days. The remaining five fastest and slowest-selling new EVs include:
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Biden administration may give automakers more time to shift to EVsCheyenne is Engadget’s weekend editor and covers a little bit of everything. She’s particularly interested in emerging technology and niche gadgets, climate change, space, privacy, and internet culture. She’ll talk your ear off about Tamagotchis if you get her started.
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