Latest news with #EVTrendsReport
Yahoo
06-08-2025
- Automotive
- Yahoo
Carvana Report Reveals Record EV and PHEV Sales Mix
Electrified vehicles accounted for nearly 1 in 10 Carvana sales in Q2, fueled by expanding selection PHOENIX, August 06, 2025--(BUSINESS WIRE)--Carvana Co. (NYSE: CVNA), an industry pioneer for buying and selling used cars online, today released an EV Trends Report, highlighting continued momentum in battery electric vehicle (EV) and plug-in hybrid (PHEV) (together, "electrified vehicles") adoption. The report shows electrified vehicles now 9% of Carvana's retail unit sales, with SUV models driving much of the growth in recent years. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service Highlights from the report include: Record Electrified Vehicle Sales Mix: EVs and PHEVs accounted for 9% of Carvana unit sales in Q2 2025, up from just over 2% in Q2 2023. Rapidly Expanding Selection: With growing electrified vehicle selection in the used fleet, Carvana offered 66% more EV make/model combinations in Q2 2025 than in Q2 2023; PHEV options doubled over the same period. SUVs Lead the Shift: SUVs now represent the largest share of EV and PHEV sales, surpassing sedans and hatchbacks as the dominant electrified vehicle body style. In Q2 2025, nearly 44% of all EV and PHEV sales were SUVs, up from just 24% Q2 2023. "We're always working to grow selection to offer an inventory that meets our customers' preferences, and as electrified vehicle options expand, this segment continues to increase as a percentage of Carvana's sales. Last quarter, nearly 1 in 10 vehicles we sold was an EV or PHEV – a significant shift from just a couple of years ago," said Christina Keiser, Executive Vice President of Strategy at Carvana. "The widening selection of electrified SUVs has been especially powerful, offering buyers greater variety in one of the most sought-after body styles." The full report provides additional analysis and information. For details on shopping for a used EV and to easily browse the hundreds of EVs on please visit our guide to buying a used EV. About Carvana Carvana's mission is to change the way people buy and sell cars. Since launching in 2013, Carvana has revolutionized automotive retail and delighted millions of customers with an offering that is fun, fast, and fair. With Carvana, customers can find a car, get financing, trade in, and complete a purchase entirely online with the convenience of delivery or local pickup as soon as the same day. Carvana's unique offering is powered by its passionate team, differentiated national infrastructure, and purpose-built technology. For more information, please visit View source version on Contacts MEDIA CONTACT: Carvana Communicationspress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
24-04-2025
- Automotive
- Forbes
CarMax's EV Trends Report Shows EV Searches Nearly Doubled In Past Three Years
CarMax's EV Trends Report on EVs just released According to a report just released by CarMax, the largest used car retailer in the United States, consumers are warming to used EVs. The company, which sold 789,050 used vehicles, plus 544,312 wholesale vehicles through its 250 stores nationwide in 2024, released its EV Trends study this week, revealing the percentage of monthly searches filtered by "Electric Vehicle" on nearly doubled from January 2022 to February 2025. During that same period, CarMax reports that average used EV prices fell by more than 40 percent—a drastic increase compared to the 12 percent drop in non-electric vehicle (combustion, hybrid, and plug-in hybrid) pricing. 'Mainstream interest in EV ownership continues to gain momentum. As the market grows, consumers are enjoying a wider selection of models. With favorable price points and steadily improving infrastructure, the electric dream is fast becoming a reality,' says CarMax. The company noted two big spikes in EV-filtered searches, potentially revealing what's influencing consumers to consider a change to electric. A spike in February 2022 aligned with a rise in gasoline prices due to the conflict in Ukraine. Another spike, in June 2024, aligned with a White House summit on EV tax credits. According to sales data from September 1, 2024, to February 28, 2025, the most popular used EVs at CarMax remain the Tesla Model 3 and Tesla Model Y—both have held those positions for three years running. The Chevrolet Bolt EUV has climbed to third, after ranking seventh in previous reports. The Volkswagen ID.4 and Hyundai Ioniq 5 round out the top five. The company notes that buying habits are changing—the Ford F-150 Lightning and the Rivian R1T, a pair of all-electric pickup trucks, made the top ten list for the first time. The trucks displaced the Tesla Model S sedan and Audi e-tron SUV. A consumer charges a Tesla at a CarMax retailer CarMax also points out that Toyota is the most popular brand consumers trade in for an EV, with Honda, Ford, Nissan, and Chevrolet rounding out the top five. The top traded-in vehicle was the Tesla Model 3 (fueling CarMax's sales), with owners choosing a larger vehicle, like the Tesla Model Y, as a replacement. The Honda Civic, Honda Accord, Nissan LEAF, and Toyota Prius—all top-rated combustion and hybrid vehicles—made the list for some of the top vehicles to be traded in for an EV The study also revealed the top states for EV sales at CarMax, with Oregon taking the top spot. California, Washington, Nevada, and Utah held up the balance of the top five—the West Coast of the US has always been dominant for the company's EV sales. While New York secured tenth place, it has dropped from last year's ranking of eighth. And Minnesota is emerging as a new player in the used EV space—the state jumped 24 spots to land at number eight in the most recent study. Industry experts spend immeasurable hours making predictions about how consumers will shop for used electric vehicles, yet it's actual consumer transactions, validated by CarMax's EV Trends Report, that count.
