New EV in the US rose 5.8 per cent month over month, as the energy crisis deepened.

Cox Automotive’s EV Market Monitor reports an interesting picture of EV sales, with sales sharply lower over the year with an estimated 68,951 units, down 26.8 per cent year over year, but used EV momentum continuing to build, and then there’s that recent sharp uptick of late.

Over the year, Tesla remained the clear volume leader at 38,500 units, followed by Hyundai, Chevrolet, Toyota and Cadillac. Tesla sales were lower 4 per cent month over month, pulling its market share down to 55.8 per cent from 60.5 per cent in January.

According to Cox Automotive estimates, Chevrolet was the standout performer in February, with volume surging 70.7 per cent month over month and vaulting into the top three. Hyundai and Toyota also posted month-over-month gains. In contrast, Ford declined marginally and Nissan saw a sharper pullback.

Used EV sales totalled 30,879 units in February, up 28.8 per cent year over year and 4.2 per cent month over month, with market share holding steady at 2 per cent. A small, but significant figure in a country with relatively cheap petrol and an ingrained loved of the internal combustion engine. Tesla led used EV sales, followed by Chevrolet, Ford, BMW and Hyundai. While most brands recorded monthly increases, declines were concentrated among European nameplates, including Audi, Volkswagen, Mercedes‑Benz and BMW.

Cox predicts that a wave of new EV launches in 2026 could broaden consumer choice and support volume growth beyond the current top brands. Rising petrol prices may also increase consideration for EVs among shoppers weighing total cost of ownership.

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