"Colorado Leads the Way in Electric Vehicle Market Share"

Electric Vehicle Sales Climb in Colorado

DENVER — The numbers don't lie. Colorado's electric vehicle sales have been steadily increasing, and it has now taken the top spot in the nation for market share in the third quarter of 2024. This is a significant achievement that reflects the changing attitudes and preferences of Coloradans.

Like Lindsey Farrington, many Coloradans are tired of the high costs at the pump. Switching to an electric vehicle not only saves money on fuel but also offers a more sustainable transportation option. Farrington leased an electric vehicle six months ago and has been enjoying the savings ever since.

Challenges and Benefits of Electric Vehicles

While there are some challenges associated with electric vehicles, such as finding available charging stations, Farrington believes that the benefits outweigh the drawbacks. "It's just more of a waiting thing. But besides that, I love it," she said.

New data from Northeast States for Coordinated Air Use Management (NESCAUM) shows that 1 in every 4 new cars purchased in Colorado in the third quarter was an electric vehicle. This is a remarkable statistic that highlights the growing popularity of electric vehicles in the state.

Colorado Gov. Jared Polis's Support for Electric Vehicles

Colorado Gov. Jared Polis is a big proponent of electric vehicles. He believes that they offer a more affordable and sustainable transportation option. "Electric vehicles are about a third of the cost per mile in terms of your electricity bill to run. So especially if you're doing a lot of driving, if you commute 20, 30, miles a day, that really adds up in savings," he said.

Tax credits have also made electric vehicles more affordable for Coloradans. They can shave $2,500 to $5,000 off the price of a new electric vehicle through state tax credits, and a $7,500 federal tax credit helps drive costs down even further. These incentives have played a significant role in driving the growth of electric vehicle sales in Colorado.

Future of Electric Vehicles in Colorado

Despite the challenges, the future of electric vehicles in Colorado looks bright. Gov. Polis expects the price of EVs to continue to come down as the volume increases. In addition, some Coloradans may qualify for a $6,000 rebate if they exchange old or high-emitting vehicles for a new electric vehicle, or a $4,000 rebate if they purchase or lease a used electric vehicle.

Lindsey Farrington is still debating whether to buy the electric vehicle she's leasing, but she is happy with the savings she's seeing so far. As more Coloradans make the switch to electric vehicles, it's clear that this is a trend that is here to stay.