Home

News

News

Trump Bump: EV Sales Are Soaring, And It's All His Fault

Trump is dismantling America's pro-EV policies. But before they're gone, consumers are cashing in.

Donald Trump EVs

Photo by: InsideEVs

Mack Hogan Mack Hogan

By: Mack Hogan

Aug 20, 2025 at 4:00pm ET

Add InsideEVs as a preferred source in Google

Share

Comment

New and used EV sales are booming, and it's all because of U.S. President Donald Trump. The president successfully pushed Congress to end the EV tax credit for new and used vehicles, and consumers are rushing to cash in on those programs before they disappear for good. That drove strong EV sales growth last month, with demand reaching near-record levels, per new data from Cox Automotive.

Remember, the big Republican budget bill that axes EV incentives after September 30 was signed into law on July 4. And in the first month following that, the Trump bump already had a massive impact on EV sales. The gains weren't just here and there; almost every make saw growth.

"July new EV sales climbed to 130,082 units, up 26.4% month over month and 19.7% year over year, lifting market share to 9.1%," the Cox report says. "It was the second-highest monthly total on record, with 11 brands posting their best EV sales of the year. The top five by volume—Tesla (53,816 units), Chevrolet, Hyundai, Ford and Honda—all saw strong gains, while Volkswagen surged 454% to sixth place. Luxury brands also performed well, with Audi (+150.2%), Cadillac (+14.5%) and Mercedes-Benz (+6.4%) signaling continued strength in the premium segment."

Related Stories

The Best EVs That Qualify For The Federal Tax Credit In 2025

The Best Used EVs In 2025: Reliable, Affordable Options For Every Shopper

The Best EVs To Buy In 2025: Our Favorites In Every Category

Affordability Remains Crucial For EV Adoption, Experts Say

Chevy Equinox EV Lease And Finance Deals: They're Practically Giving Them Away

The Best Cheap Used EVs In 2025: Top Budget-Friendly EV Deals

This tracks with my personal experience. As tariffs affect the whole market, consumer confidence softens and EV incentives disappear, consumers and dealers all expect prices to go up. Many are rushing to get in while the getting's still good. I've encouraged multiple friends and family members to buy or lease their new or used EVs now, before it's too late. Based on the Cox data, that message is getting through to a lot of shoppers.

EV inventories are way down. The average dealer had a 40 day supply of used EVs in July, a decline of 49% year over year. That's tighter than the market for used internal-combustion vehicles, with dealers holding about 43 days supply in July. On the new market, that relationship flips, an 87-day supply of new EVs compared to 76 days worth of ICE inventory. But still, new EV inventory is down 49% compared to a year ago. 

Motor1.com INSIDER - logo

Stay informed with our newsletter every weekday

 

back

Subscribe For more info, read our Privacy Policy & Terms of Use.

So what does it mean when sales are up, but inventory is down? It means consumers are snapping these deals up. I'd highly recommend you do the same. A used EV or a new cheap EV lease remain the two most cost-effective ways to get a great car, but that window is closing. Come October 1, most EV leases will suddenly cost $7,500 more, and used EV buyers won't be eligible for a $4,000 federal tax credit, either.

What do you think?

View

Comments

It's a good time to brush up on our used EV buyer's guide. There may be a deal in there for you.

Contact the author: Mack.Hogan@insideevs.com. 

We want your opinion!

What would you like to see on Insideevs.com?

Take our 3 minute survey.

- The InsideEVs team

Share this Story

GO TO COMMENTS

(

)

Got a tip for us? Email: tips@insideevs.com

View all comments ( )

Trending

Lucid's $50,000 Tesla Model Y Rival Is Getting Closer To Production. Here's The Latest

Lucid's $50,000 Tesla Model Y Rival Is Getting Closer To Production. Here's The Latest

Tesla Is Squeezing More Money Out Of The Cybertruck Before It Dies

Tesla Is Squeezing More Money Out Of The Cybertruck Before It Dies

This BMW i3 Drove 3,658 Miles. It Needed Less Than 3 Hours Of Charging

This BMW i3 Drove 3,658 Miles. It Needed Less Than 3 Hours Of Charging

Rivian's New Robots Will Initially Handle 20% Of Factory Tasks. The Goal Is 80%, CEO Says

Rivian's New Robots Will Initially Handle 20% Of Factory Tasks. The Goal Is 80%, CEO Says

latest articles

RECOMMENDED FOR YOU



Tesla’s Cheapest Cybertruck Ever Is An RC Racer That Goes 37 MPH



Google’s Gemini AI Assistant Now Works On Apple CarPlay



Tesla Extends Cybertruck Production Run To Work Through Order Backlog



The Best Hybrid SUVs To Buy In 2026



The AI Boom Is Making Ordinary Car Parts Harder To Get, Rivian Says



This BMW i3 Drove 3,658 Miles. It Needed Less Than 3 Hours Of Charging



Tesla Is Squeezing More Money Out Of The Cybertruck Before It Dies