New numbers about non-Tesla EV market share and how many dealerships are selling electric vehicles are showing just how much Tesla’s market edge has shrunk in the past few years, according to data compiled by iSeeCars.com.
iSeeCars took a look at the inventories of over 82,000 new and used car dealers between November 2020 and November 2023. The outlet says the percentage of dealers who offered at least one EV for sale in each month was tallied nationally, by state and by metro area. These fellas sure are thorough. Let’s look at some of their biggest findings.
The Explosion Of Non-Tesla EV Market Share
The EV market for non-Tesla vehicles has more than doubled every single year since 2020, and they now represent about half of all new EV sales in the U.S., according to iSeeCars. All in all, the market share of non-Tesla EVs has jumped over 800 percent from November 2020 to November 2023.
“Watch for a spike in used EV share as all these new models move into the used market,” said Brauer. “The Inflation Reduction Act now offers up to a $4,000 incentive for used EVs, which will increase demand and market activity.”
Dealers Are Offering More EVs
Between November of 2020 and November of 2023, the number of traditional, non-Tesla new car dealers selling electric vehicles has more than tripled from 16.5 percent to 55.1 percent. Used car dealers have also seen their EV numbers grow from 17.1 percent to 29.4 percent. We should see a similar jump to what new EVs saw in a few years when more make it onto the used market.
Large dealerships are, unsurprisingly, far more likely to sell EVs because of the investment, training and on-site charging required to make sales, well, work. Because of that, many medium and small dealerships aren’t as keen on getting in on the EV revolution.
It’s sort of a tale of two worlds when it comes to used car dealers selling EVs. Western states like California, Washington and Utah have the highest percentage of dealers selling EVs. Meanwhile, central states like Wyoming, Mississippi and North Dakota have the lowest percentage of used EV dealers.
“New car dealers — outside the Tesla network — offering electric vehicles have ramped up over the past three years, with the biggest growth occurring in just the past 12 months,” Karl Brauer, iSeeCars executive analyst, said. “This is going to put increasing pressure on Tesla’s sales and market share. Used car dealers have also stepped into the EV market, with more than 70 percent growth compared to three years ago.”
Still, nearly half (44.9 percent) of all dealers don’t sell EVs. A nice chunk of that comes down to the fact their brand doesn’t offer an EV, which makes it a mighty difficult task for them to sell EVs. However, if you look at automakers that do sell an EV, 83.5 percent of new dealers offer them.