DENVER — Electric vehicle sales in Colorado continue to climb.
Colorado has become number one in the nation for market share of new electric vehicles purchased in the third quarter of 2024, surpassing California.
Like many Coloradans, Lindsey Farrington grew tired of pain at the pump.
"I had an SUV before and it was just too much with gas,” Farrington said.
She decided it was time for a change, so she leased an electric vehicle.
"I've had it for about six months now,” said Farrington.
Denver7 caught up with Farrington as she charged her vehicle at a charging station in Denver's Five Points neighborhood. While she said it could sometimes be a challenge finding available charging stations, she has no regrets.
"It's just more of a waiting thing. But besides that, I love it,” said Farrington. “I save a lot of money too, especially with gas and everything."
She’s not alone. More Coloradans are driving electric vehicles these days.
Data from the Northeast States for Coordinated Air Use Management (NESCAUM), a multi-state coalition of air agencies, shows that one in every four new cars purchased in Colorado in the third quarter of 2024 was an electric vehicle.
According to NESCAUM, Colorado ranked first in market share for new electric vehicle sales in the third quarter, surpassing California. Washington state ranked third, followed by Washington, D.C. and Nevada.
Colorado ranked second in market share (behind California) for new electric vehicle sales for the first nine months of the year, according to the Colorado Automobile Dealers Association.
Colorado Gov. Jared Polis was excited to learn Colorado had surpassed California.
“I'm so excited that Colorado is number one in percentage of cars sold that are electric,” said Polis. “We beat California!”
Polis is a big proponent of electric vehicles.
“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,” Polis said.
He said tax credits have made electric vehicles more affordable. Coloradans can shave $2,500 to $5,000 off the price of a new electric vehicle through state tax credits. A $7,500 federal tax credit helps drive costs down even further.
“We've made a lot of effort to reduce the cost to save people money on electric vehicles,” Polis said. “So there's really good electric vehicles that often cost less than similar vehicles that consume gas.”
But President-elect Donald Trump’s transition team is reportedly working on a plan to get rid of the federal tax credit. Trump said he believed the tax credit, which was part of President Joe Biden’s Inflation Reduction Act, was designed to hurt the auto industry.
“You know, it's hard to say what they're gonna do,” Polis said.
The $5,000 tax credit Colorado offers will decrease to $3,500 in 2025, according to the governor’s office. But Polis said he still expects it to become easier for Coloradans to purchase electric vehicles.
“Certainly, the price of EVs will continue to come down as the volume increases,” Polis said.
In addition to the tax credits, some Coloradans may qualify for a $6,000 rebate if they're exchanging old or high-emitting vehicles for a new electric vehicle. They could qualify for a $4,000 rebate if they purchase or lease a used electric vehicle. The rebates are available through the Vehicle Exchange Colorado program.
Farrington hasn’t decided whether to buy the electric vehicle she’s leasing.
“I'm still debating if I want to even buy the car," she said. "But I do really like how it runs."
However, she said she’s happy with the savings she’s seeing so far.
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