Leading the Nation in Electric Vehicles: Governor Polis Announces that Colorado Has Become #1 in the Nation for Market Share of New Electric Vehicles

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DENVER - Today, Governor Polis and Colorado Energy Office Executive Director Will Toor celebrated Colorado's leadership in electric vehicle (EV) sales announcing that Colorado has passed California to reach the highest EV market share of any state in the nation, according to Northeast States for Coordinated Air Use Management (NESCAUM).

"Coloradans are purchasing electric vehicles 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 and especially with competitive state and federal rebates, drastically cutting the cost of an EV and saving people money," said Colorado Governor Jared Polis.

Newly released data from NESCAUM comparing EV sales across all US states shows that in the 3rd quarter of 2024, Colorado passed California to become the top state in the country for EV Sales, with EVs making up 25.3% of new vehicles sold in the state. 82% of EVs sold in Colorado were full electric vehicles with the remaining 18% being plug-in hybrid electric vehicles.

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Earlier this year, according to the Colorado Automobile Dealers Association, Colorado became 2nd in the nation in electric vehicle (EV) sales in 2024 through the first nine months of the year.

"Colorado's nation leading progress in electric vehicle adoption is a key part of our ambitious efforts to achieve net-zero emissions in Colorado by 2050," said Colorado Energy Office Executive Director Will Toor. "Between investments in charging infrastructure and generous incentives to bring down purchase and lease costs, our commitment to making electric vehicles an affordable and reliable option for Coloradans is paying off. Whether you're in a rural or urban community, electric vehicles are everywhere in Colorado, saving Coloradans money and improving air quality across our state."

All Coloradans are currently eligible for a $5,000 state tax credit for purchasing or leasing a new EV (battery electric and plug-in hybrid electric) with a manufacturer's suggested retail price (MSRP) under $80,000, and an additional $2,500 for EVs with an MSRP under $35,000. The $5,000 state tax credit is available through the end of this year, before decreasing to $3,500 starting in 2025.

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Income-qualified Coloradans exchanging an eligible old or high-emitting vehicle can also take advantage of a $6,000 rebate through the Vehicle Exchange Colorado program for a new EV purchase or lease and a $4,000 rebate for a used EV purchase or lease.

In addition, Coloradans may be eligible for a $7,500 federal tax credit for a new EV lease, and for the purchase of certain EV models that meet specific manufacturing requirements. A $4,000 federal tax credit is available for used EV purchases and leases.

On top of the purchase incentives available for Coloradans, the state is also working to expand options for EV owners to charge in public.  To date there are over 5,500 publicly available charging ports across the state and the state has already awarded over $5 million to install an additional 576 ports in 2024 via the Charge Ahead Colorado program.

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