The U.S. EV Market in 2025: Market Share, Cost Comparisons, and the Used Car Landscape
As of mid-2025, electric vehicles (EVs) account for approximately 11–12% of new vehicle sales in the United States. While EVs continue to grow in popularity, they still trail behind gas-powered vehicles and hybrids in total sales and ownership nationwide. Nevertheless, more drivers are making the switch—thanks to tax incentives, lower fuel costs, and a broader range of vehicle options.
EV Market Share by Automaker in the U.S. (2025)
The U.S. EV market remainsrelatively concentrated, with a few key players accounting for the majority of sales:
Tesla: ~50%
Tesla remains the clear market leader, with its Model Y and Model 3 dominating EV sales. The brand’s vertical integration, expansive Supercharger network, and name recognition continue to set it apart.
Ford: ~7%
Ford’s EV lineup—especially the Mustang Mach-E, F-150 Lightning, and E-Transit vans—has helped it carve out a solid second-place position among legacy automakers.
Chevrolet (GM): ~6%
GM’s Chevrolet Bolt remains a popular affordable EV option, and the company is expanding with models like the Blazer EV and Equinox EV in 2025.
Hyundai/Kia: ~5–6%
Hyundai’s Ioniq 5 and Ioniq 6, along with Kia’s EV6, are gaining traction thanks to sleek designs, solid range, and fast charging capabilities.
Volkswagen: ~3%
The ID.4 leads Volkswagen’s U.S. EV push, with plans to expand its Chattanooga plant to produce more EVs domestically.
Rivian: ~2%
Rivian’s electric trucks and SUVs have found a niche audience, especially among outdoor and adventure-oriented buyers.
Other Brands (Nissan, BMW, Mercedes, Lucid, etc.): ~15–20% combined
A variety of luxury and economy brands are competing for a slice of the growing EV pie, with varying degrees of success.
Cost Comparison: EVs vs Gas vs Hybrid Vehicles
Fuel Costs: EVs cost significantly less to power. Home charging typically equates to about $1.00–$1.50 per gallon equivalent, while gasoline prices remain in the $3.50–$4.00 per gallon range.
Maintenance Costs: EVs are mechanically simpler. Without oil changes, timing belts, or transmission fluid, EVs typically cost 30–50% less to maintain than internal combustion vehicles.
Purchase Price: The average new EV still costs more up front—roughly $50,000—but federal tax credits (up to $7,500) and state incentives help bridge the gap. Hybrids, on average, are more affordable than EVs but offer fewer long-term fuel savings.
The Used EV Market: Opportunities and Challenges
As more new EVs hit the road, the used market is beginning to mature—but it brings unique dynamics:
Depreciation: EVs often depreciate faster than gas-powered cars, especially older models with shorter ranges. A 3–5-year-old EV can often be found at 40–60% off its original MSRP.
Battery Health: Long-term buyers are concerned about battery degradation. However, most modern EV batteries are holding up well—often retaining70–90% of their capacity after 100,000 miles. Battery warranties (typically 8 years/100,000 miles) offer some reassurance.
Used EV Tax Credit: A $4,000 federal tax credit is now available for qualifying used EVs under $25,000, making pre-owned electric cars more attractive—especially for budget-conscious drivers.
Best Values: 2019–2021 models like the Chevrolet Bolt, Nissan Leaf, and Tesla Model 3 can now be found in the $15,000–$25,000 range.
Final Thoughts
While EVs represent just over one-tenth of new car sales in the U.S., their presence is growing steadily. Tesla continues to dominate, but other automakers are catching up fast with compelling alternatives. For many buyers, especially those with home charging access, the financial case for EVs is becoming increasingly strong—whether buying new or used.
As the used EV market expands and public charging improves, expect broader adoption across all income levels and geographies.