Colorado, the Centennial state, California in Electric Vehicle sales. The Northeast States for Coordinated Air Use Management (NESCAUM) reported.
Governor Jared Polis shared his thoughts directly:
Coloradans are purchasing Electric vehicle at a higher rate than any other state because they are affordable, quiet, and a great ride. EVs are helping us reach our bold climate goals and protect our clean air. This new data shows that demand for EVs continues to increase, especially with competitive state and federal rebates, drastically cutting the cost of an EV and saving people money.
The numbers back up Polis’s excitement. EVs made up 25.3% of new vehicle sales in Colorado during the third quarter of 2024.
Battery electric vehicles (BEVs) ruled the market, accounting for 82% of electric car sales. Plug-in EVs made up the remaining 18%.
Colorado’s success isn’t just luck. The state created smart incentives that work with the federal Inflation Reduction Act (IRA). Right now, Colorado residents can get serious savings on electric cars.
Here’s how the credits break down:
- $5,000 for new BEVs or plug-in EVs under $80,000
- Up to $7,500 for vehicles under $35,000
- $6,000 for trading in old vehicles for electric models
The current $5,000 tax credit runs until the end of 2024. It’ll drop to $3,500 in 2025. So now’s a great time to switch to an electric car.
