The Q2 2025 Vincensus Report paints a complex picture of the automotive market, one that has spent much of the year navigating affordability challenges and shifting consumer preferences. Compiled by Lotlinx using a dataset of over 24 billion inventory-specific data points, the report provides a comprehensive look at the latest trends in both new and used vehicle sales.
New Vehicle Sales See Modest Growth
New vehicle sales increased by 7 percent quarter over quarter, a boost driven primarily by tariff induced demand that drove customers to the dealership in April and May. Hybrid and traditional gasoline-powered cars (ICE) were up 7 percent quarter over quarter while EV sales stagnated a bit and fell 2 percent from Q1. Part of this surely has to do with the array of legislation uncertainty that has affected EVs the past few months, from the attempted removal of the California EV mandate to the upcoming phase out of EV tax credits. However, this also reflects hesitancy among consumers facing an ongoing affordability crunch. New EVs averaged nearly $55,000 in Q2, more than $10,000 above the price of ICE vehicles and $7,000 higher than hybrids. On average new cars were listed at $43,924, a slight one percent increase over Q1.
As sales slipped, partially due to the higher average cost, day supply for new EVs spiked by an additional 22 days to reach an even 100 days. The inventory buildup makes sense in an increasingly price-sensitive market, but it has led to a bit of course correction. The average list price of gasoline cars rose 2 percent, while EV pricing dipped by 2 percent in the quarter. Notably, aged inventory for new hybrids and EVs rose sharply, both increasing by over 7 percent, while for used cars it was ICE vehicles that experienced the most aging, also at 7 percent.
Inventory and Pricing Trends
Inventory patterns did not just showcase disparities between ICE and EV powertrains but also new and used vehicles. New vehicle day supply decreased by 4 days quarter over quarter, settling at 61 days, though it increased slightly year over year by 1 day. Meanwhile, used vehicle day supply rose 2 days quarterly to 40 days, up 2 days YoY. Aged inventory swelled, with 49 percent of used vehicles on lots for over 30 days, marking a 7 percent quarter over quarter jump.
Average ending inventory for used vehicles was listed at $28,888, nearly $2,000 higher than the average list price of used units sold during the quarter. New vehicle carryover dropped 5 percent to 51 percent, while used vehicle carryover fell 6 percent to 43%, reflecting gradual inventory movement.
EV Affordability Remains a Barrier
Above all in 2025, affordability is what dominates the market, and it continues to be a significant factor affecting EV performance. Many automakers are expected to deploy incentives to spur consumer interest and offset rising costs across all powertrains in the coming months. However, they might not need to yet for EVs as the allure of getting an EV now before tax incentives are gone may be enough to increase sales during Q3. For customers not yet ready to go fully electric, hybrids are increasingly dominating market share as they strike a balance between cost and sustainable mobility. They also currently have the lowest inventory available sitting at 50 days supply.
Hybrids and ICEs will most likely continue to command consumer favor in the near term, forcing EV manufacturers to reevaluate pricing strategies. Dealers are encouraged to focus on competitive pricing and customer engagement to align with the affordability needs of buyers.
That only applies to new EVs though, the used vehicle market was much kinder to EVs this quarter. Used EV sales climbed 11 percent, outperforming other powertrains due to the narrower price gaps. On average, a used EV was only $4,000 more expensive than its ICE or hybrid counterpart, making it a viable option for all kinds of buyers. Overall, used vehicle sales for all powertrains saw a 1 percent gain quarter-over-quarter, bolstered by a 4 percent rise in the overall list price of sold units.
Brand-Specific Insights
As is often the case, the average numbers only tell part of the story, as automakers saw varied performance in a hectic second quarter. Acura achieved a 17 percent reduction in new carryover, with its ADX model accounting for 10 percent of sales, while the brand’s new EV inventory saw the largest decrease of anyone, lowering by 58 percent quarter over quarter. Audi, who has struggled adjusting to new import tariffs, saw a 13 percent drop in new sales in the quarter, partially driven by a 32 percent decline in Q5 inventory. However, used E-Tron sales rose 77 percent, supported by an 18 percent dip in average list prices.
Cadillac experienced a 29 percent YoY increase in carryover but got a strong performance from the XT4 with inventory down 18 percent in the quarter. Chevrolet’s Equinox EV sales surged 64 percent, while Blazer EV inventory faced the highest rate of markdowns in the market at 71 percent. Other standouts include Chrysler with a market-leading 12 percent drop in aged inventory quarter over quarter and Dodge reporting a 10 percent increase in new sales, driven by the Charger Daytona, which also saw a 12 percent YoY price increase.
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