Electric cars are breaking sales records in 2023
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Cox Automotive says more shoppers have chosen electric vehicles so far this year than ever before.

Sales of electric vehicles have been growing healthily over the past few years, but that trend has accelerated this year. Approximately 300,000 new battery-electric vehicles were purchased by US consumers in the second quarter, according to Cox Automotive.

Not only is that more than 48% higher than last year, but it is more than the number of EVs sold in all of 2019. This doesn’t include plug-in hybrid electric vehicles (PHEVs), which can run on gasoline or electricity and have a battery that can be recharged with either a charging cable or a generator powered by the engine.

In 2023, Cox Automotive predicts that US sales of fully electric vehicles will break the 1 million vehicle barrier for the first time. The second quarter of this year has already seen more than 557,000 EVs sold.

There are several factors contributing to the growth of EV sales, including price cuts, a broader selection of vehicles, and more government and manufacturing investments.

Cox Automotive’s director of industry insights Stephanie Valdez-Streaty said, “It’s just the perfect storm of all these things coming together.”.

At least some of this year’s top-selling EVs, including the Tesla Model 3, Tesla Model Y, Chevrolet Bolt, Rivian R1T and Volkswagen ID.4, qualify for the IRA tax credit.