Electric vehicle sales hit a record high in the second quarter, according to a new analysis from Cox Automotive. Almost 300,000 new battery-electric vehicles were sold between April and June this year. The 48.4% increase was more than any previous quarter since modern-day EVs first came on the market in 2010.

What You Need To Know

  • Almost 300,000 new battery-electric vehicles were sold in the second quarter

  • The 48.4% increase was more than any previous quarter since modern-day EVs first came on the market in 2010

  • One in 3 EVs sold is a Tesla Model Y

  • Chevrolet was the second bestselling EV maker, followed by Ford and Hyundai

EVs now account for 7.2% of the U.S. new vehicle market — up from 5.7% a year ago.

Tesla was the market leader, selling more than 175,000 vehicles in the second quarter. Its Tesla Model Y was the bestselling EV in the country. One of every three EVs sold was a Model Y. Coupled with the Model 3, the two Tesla models made up half the country’s EV business.

Chevrolet was the second bestselling EV maker, followed by Ford and Hyundai.

The average price customers paid for an EV was down 20% in the second quarter compared with a year earlier, driven largely by Tesla’s price cuts. The auto maker has cut prices six times this year, reducing the cost of its Model 3 by 11% and Model Y by 20%.

Following Tesla’s lead, Ford announced Monday it is cutting the price of its battery electric F-150 Lightning by $10,000 for its least expensive version and by $6,000 for its more premium trims.