US EV Sales Hit Record High in August, Tesla's Market Share Slides

US electric vehicle sales reached a record high of 146,332 units in August, capturing 9.9% of the total market. With the federal EV tax credit set to expire soon, analysts predict Q3 2025 will be the strongest quarter ever for US EV sales. The average transaction price was $57,245, essentially flat year-over-year. While Tesla remains the market leader, its market share dropped to a record low of 38%, with sales down 6.7% year-over-year. Cox Automotive analysts attribute the sales surge to new product launches and motivated dealers.