Almost one-third of all new car sales from July through September were for EVs or plug-in hybrids
by Allen Best
It’s another one of those good news, bad news stories.
First, the bad news. The federal government withdrew its tax credits of up to $7,500 for purchase or lease of a new EV (and $4,000 for a used EV). Congress made that decision in early July, as part of the One Big Beautiful Act. The deadline was Oct. 1.
The good news is that the deadline spurred Coloradans to set a new record for purchases of EVs. From July through September, 32.4% of new vehicle sales in Colorado were EVs or plug-in hybrids. Colorado led the nation, slight ahead of California.
Colorado now has surpassed 210,000 EV registrations. To put that into perspective, then-Gov. John Hickenlooper in 2018 declared a goal of 940,000 registered EVs in Colorado by 2030.
The state has a long way to go. But it does have momentum.
This chart from the Colorado Automobile Dealers Association shows how the sales of EVs and plug-in hybrids has grown during the last five years in Colorado. Sales of EVs dropped in the first six months of this year but leaped to a record in response to the imminent federal deadline.
In a statement issued by his office, Gov. Jared Polis heralded the sales. “Coloradans and the free market are saying loud and clear that affordable, clean and efficient electric vehicles are here to stay,” he said. Those electric cars, he said, save money while improving air quality.
We hear less about range anxiety. We still don’t have high-speed charging stations to match the “filling stations” created in the 20th century. However, the state as of early October, had 1,487 high-speed charging ports at 458 locations around Colorado. They can be found from Cortez to Holyoke, and from Dinosaur to Lamar.
And the number of EVs is, in some places, reaching a tipping point.
Travis Madsen, transportation manager for the Southwest Energy Efficiency Project, reports a trip to New Mexico recently along Interstate 25. At Pueblo, he stopped to recharge. For the first time ever anywhere in his experience, he had to wait. All the ports were busy.
Madsen also had good news. From July through September, a record 167 new fast-charging ports were installed in Colorado.
Will this momentum continue?
Madsen doesn’t expect sales to remain above 30% during the next few quarters. He does hope that public awareness has grown about the value of EVs regardless of federal tax credits. EVs still generally cost more, but they require less maintenance and can be fueled far more cheaply, especially at home. Department of Energy data show that current EVs are 2.6 to 4.8 times more efficient at traveling a mile compared to a gasoline internal combustion engine, according to the Natural Resources Defense Council.
To help maintain momentum, the state on Nov. 3 will raise Vehicle Exchange Colorado rebates from the existing $6,000 to $9,000 for new EV purchases and leases. For used EV purchases and leases, the prices will rise from $4,000 to $6,000. The program aims to enable income-qualified Coloradans to access EVs. Maybe that will include writers.
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Got my second EV before the federal $7500 ended. We now have 2 EVs and no ICE.
Nice!
My understanding is that CO actually made the EV credits simple (at dealer, refundable) and progressive.
It would be interesting to know the breakdown of Colorado credits and programs. How many low-cost EVs got the higher credit? How many folks participated in the “Vehicle Exchange Program.”
Now, HPs?