USA EV Gross sales In 2024 — Up 7% Over 2023, 61% Over 2022, 166% Over 2021

By Imran Last updated Jan 27, 2025

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The US electrical car market did develop in 2024. It elevated 7% over 2023, or by practically 89,000 items. In comparison with 2022, EV gross sales grew by 61%, or virtually 492,000 items. In comparison with 2021, EV gross sales grew by 166%, or greater than 813,000 items. So, sure, the US electrical car market has been rising strongly — simply not as strongly as many people would love, not as strongly as predicted for a time period, and never as strongly as different market markets, most notably China and Europe.

When discussing these issues, although, you actually should tease out Tesla gross sales. Tesla accounts for practically 50% of the US EV market, and it as been on an reverse trajectory from the remainder of the US EV market not too long ago. Within the following chart, in the event you look carefully, you may see that after rising solidly 12 months after 12 months, Tesla gross sales declined in 2024 in comparison with 2023. (However you already knew that in fact.) Non-Tesla EV gross sales grew stronger 12 months over 12 months, and nonetheless grew solidly in 2024.

That’s the general story. Let’s dig into the small print subsequent — the fashions, manufacturers, and automotive teams.

The Tesla Mannequin Y is in a league of its personal, and the Tesla Mannequin 3 is simply too, only one league under the Mannequin Y’s league. Sadly, it then takes gross sales from the subsequent 12 fashions to roughly match the Mannequin Y’s gross sales. However at the least 1) there’s huge selection now, and a couple of) there are 30 fashions getting 10,000 gross sales or extra a 12 months, and eight fashions getting greater than 30,000 gross sales a 12 months.

Okay, wonderful, that is nonetheless fairly disappointing, nevertheless it’s a lot better than three years in the past — 166% higher.

Evaluating these fashions’ gross sales in 2024 to their gross sales in 2023, we are able to additionally see which fashions have had the strongest development or have had the largest decline. Trying in quantity phrases, the large winners are mainly all new fashions. Although, amongst considerably established fashions, the Cadillac LYRIQ did fairly properly, rising by 19,000 items. Ford’s Mustang Mach-E and F-150 Lightning additionally scored gross sales development of about 10,000 items every, as did the Hyundai IONIQ.

On the draw back, Tesla’s two predominant fashions mixed for 50,000 fewer gross sales in 2024, and the Volkswagen ID.4 and Mercedes EQS additionally had deep drops.

Trying on the fashions when it comes to proportion development, a handful of fashions that had solely a trickle of gross sales on the finish of 2023 after which quantity gross sales in 2024 warp the chart a lot that it’s laborious to inform what’s occurring in any other case….

… So, right here’s one other chart under with 4 fashions eliminated. The massive winners when it comes to proportion development had been clearly luxurious fashions. Just a few supply car fashions additionally did fairly properly.

Volvo Automobiles, for some cause, had a very dangerous 12 months as properly.

By way of the auto manufacturers that carried out particularly properly within the US EV market, after Tesla’s dramatic place on the prime (48.7% of EV market share), Ford bought the solver medal (7.5%), Chevrolet bought the bronze (5.2%), and Hyundai (4.7%) and Kia (4.3%) weren’t far behind Chevrolet rounding out the highest 5.

And Ford bought practically 100,000 EV gross sales in 2024!

Trying by automotive group (or overly sophisticated alliance), Hyundai–Kia got here in second, a bit above GM, and two full proportion factors above Ford. Mixed, these 4 manufacturers accounted for about 75% of US EV gross sales final 12 months.