24/7 Insights

• • The fastest-selling electric vehicles are a mix of budget and luxury models. 
  • Hyundai, Volvo, and BMW have multiple vehicles on this list. 
  • Only one of the vehicles is eligible for the federal tax credit. 
  • Also: 2 Dividend Legends to Hold Forever

Electric vehicles are having a moment as many car manufacturers look to an all-electric future. Manufacturers like Volvo, Mercedes-Benz, Cadillac, and Lexus are just a few brands looking to release most of their new vehicle models as all-electric. While this movement toward an all-electric vehicle future has met some roadblocks, the companies remain firm on this being the right move. 

As part of this effort, plenty of electric vehicles are already on the road, and some are selling very well. According to a report from iSeeCars, at least ten new electric cars can be considered among the best-selling. With this in mind, we can look at these models in descending order based on how many days they are sitting on the market or a car lot, to be more specific. 

Why Is This Important? 

There is little question that the car market is widely covered on 24/7 Wall Street. Many of the names on this list are among America’s most talked-about companies, and the automobile market tracks them as trend leaders. This includes names like Hyundai and Kia, which have improved their reputations significantly over the last ten years with customer-centric warranties and outstanding reliability.  

10. Hyundai Ioniq 5

• Average days on market: 55.5
• Average price: $52,433
• Range: 220-303 miles
• Federal tax credit applicable: No

Hyundai’s Cube

There is little question that the Hyundai Ioniq 5 has taken the EV world by storm, often labeled as a great alternative to the Tesla Model Y. While the “cube” look of the Hyundai Ioniq 5 won’t be for everyone, the vehicle offers a unique theme you don’t see elsewhere on the road. Combined with the vehicle’s dual 12-inch displays, you get a full driving experience that feels warm and inviting, including Hyundai’s outstanding warranty and reliability. 

9. BMW i5

• Average days on market: 52.1 
• Average price: $82,847
• Range: 270-295 miles
• Federal tax credit applicable: No

Luxury Sedan

In the BMW world, the BMW i5 is every bit the luxury sedan the company believes only it can deliver to its customers, just as an all-electric model. With a capacity for five passengers, the i5 offers a massive infotainment display that has to be seen to be believed. With a range of up to 270-295 miles, the i5 is good for families with young kids doing lots of daily activities and those working in an office.  

8. Toyota bZ4x

• Average days on market: 48.3 
• Average price: $48,742
• Range: 228 – 252 miles
• Federal tax credit applicable: No

Toyota Power

Available as both a Toyota model and the Subura Solterra, depending on the country of origin, the Toyota bZ4x is the first electric compact crossover SUV made by Toyota. Co-developed with Subaru, worldwide sales started with the 2022 model year, and Toyota has indicated that at least 7 “bZ” models will be available over the coming years. As of August 2024, the vehicle does not apply for the $7,500 federal tax credit. 

7. BMW iX 

• Average days on market: 48.2 days
• Average price: $99,224
• Range: 264 – 380 miles
• Federal tax credit applicable: No

BMW Performance

The first BMW to be built with an all-electric future in mind, the iX has been available to customers since November 2020. Depending on which model you buy, you can get between 264 and 380 miles of range, which should appeal to customers who want both BMW luxury and plenty of range available. Of course, as a BMW, you can expect plenty of connected technology inside, along with driver-assist features. 

6. Hyundai Kona Electric

• Average days on market: 47.3
• Average price: $37,727
• Range: 200 – 261 miles
• Federal tax credit applicable: No

The Modern Hyundai

Hyundai’s hope that the Kona Electric would “reflect the lifestyle of modern customers” has been successful. Rest assured, this is one of the best budget-friendly EVs in the US for customers looking to easily transition to the EV world. Hyundai labels the Kona’s unusual style as a “progressive design,” and even though it’s not for everyone, if you like what you see, the Kona delivers in a big way. 

5. Cadillac LYRIQ

• Average days on market: 40.5 days
• Average price: $66,482
• Range: 314 miles
• Federal tax credit applicable: $7,500 up to $80,000

Cadillac Goes Electric

Cadillac’s first all-electric SUV undoubtedly met high expectations, and for the most part, Cadillac has delivered with the LYRIQ. Initially planned for a 2021 model year, the COVID-19 pandemic delayed production and set the launch date back to 2022. With the combination of a 314-mile range and a refined interior only Cadillac can deliver in the GM world, the LYRIQ has met and exceeded customer expectations. 

4. Kia EV9

• Average days on market: 37.8 
• Average price: $69,438
• Range: 230 – 304 miles
• Federal tax credit applicable: No

Beautifully Electric

Of all the non-luxury electric SUVs you can buy today, the Kia EV9 might be the most beautiful. Initially teasing the vehicle in March 2023, the idea of an electric SUV with second-row seats that rotate 180 degrees was unlike anything anyone had ever seen. The polygon design of the vehicle is unusual, to be fair, but it also helps the EV9 stand out while still offering Kia’s exceptional warranty. 

3. Volvo C40 Recharge

• Average days on market: 36.4 
• Average price: $59,570
• Range: 257-297 miles
• Federal tax credit applicable: No

All-Electric Future

Like the Volvo XC40 Recharge, Volvo offered a secondary model with the C40, providing a frontend similar to the non-EV XC40. The most significant difference between the two vehicles is the roofline, as the C40 Recharge model offers more of a coupe-like roofline that feels sportier overall. The good news is that both models provide a long-range similarity to their 2023 and 2024 models. 

2. Chevrolet Blazer EV

• Average days on market: 34.2 
• Average price: $55,365
• Range: 280 – 320 miles
• Federal tax credit applicable: No

Lets Blaze

The gas-powered Chevrolet Blazer has been available for a long time, since 1969 to be exact, but the 2022 model was the first all-electric variant. With a range of 320 miles, the Blazer EV even won MotorTrends SUV of the year in 2024. Rated for a range between 280 and 320 miles, the Blazer EV offers a refined exterior design and futuristic interior to better compete with growing competition in the space. Chevrolet also ensures fast charging is available as the car can gain an additional 78 miles of range in just 10 minutes of charging. 

1. Volvo XC40 Recharge

• Average days on market: 30.2 
• Average price: $59,532
• Range: 254-293 miles
• Federal tax credit applicable: No

Volvo All Day

First released in 2019, the Volvo XC40 Recharge is one of the models Volvo is counting on to help with its all-electric future. As Volvo was one of the first manufacturers to commit to going all-electric, the XC40, now known as the EX40, offers both front-wheel and all-wheel drive models. The 2023 model also enabled Volvo to significantly improve its range, which has undoubtedly helped it achieve the number one position.

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