U.S. Electric Vehicle Sales Growth Slows as Dealer Inventory Increases

Electric VehiclesHigh Tech / High TouchSalesMoney Matters
Written By Jennifer Joslyn

The growth of electric vehicle sales in the U.S. has started to taper off as dealer lots become filled with unsold battery-powered models. Plug-in EV sales grew by nearly 50% in the first half of the year, compared to 65% growth in 2022 and a 71% gain in the first half of 2021. The slower pace of growth is attributed to a surplus of EV inventory, which reached 92 days in June, leading some dealers to express concerns about the excess supply. American car buyers remain optimistic about the future of EVs, but dealers appear more cautious due to the growing inventory levels.

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U.S. Electric Vehicle Sales Growth Slows as Dealer Inventory Increases
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Jennifer Joslyn
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