Sales of new and used electric vehicles accelerated in July as consumers raced to beat an expiring federal tax credit. New EV sales increased 26.4% last month compared with June and were up 19.7% year over year, according to a new analysis from Cox Automotive. Used EV sales were up 23.2% compared with a month ago.

EV sales vastly outpaced overall auto sales, which rose 1.6% last month, according to the U.S. Commerce Dept.

What You Need To Know • Sales of new and used electric vehicles accelerated in July as consumers raced to beat an expiring federal tax credit • New EV sales increased 26.4% last month compared with June and were up 19.7% year over year, according to a new analysis from Cox Automotive • Used EV sales were up 23.2% compared with a month ago • As part of the 2022 I

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