Sales of all-electric vehicles and hybrid models in the U.S. reached 20% of new car and truck sales for the first time last year, a significant milestone for “green” vehicles. However, this growth occurred at a slower pace than many had expected. According to auto data firm Motor Intelligence, over 3.2 million “electrified” vehicles were sold in the previous year, comprising 1.9 million hybrid vehicles (including plug-in models) and 1.3 million all-electric models.
While traditional vehicles with internal combustion engines still dominated sales, accounting for 79.8%, this marked the first time they fell below 80% in modern automotive history. In terms of pure EV sales, Tesla remained a leader, although its market share decreased to around 49% from 55% in 2023. The Tesla Model Y and Model 3 were reported as the top-selling EVs in 2024.
Following Tesla in EV sales were Hyundai Motor (including Kia) with 9.3% market share, General Motors at 8.7%, and Ford Motor at 7.5%, as per Motor Intelligence. BMW rounded out the top five with 4.1% market share. The U.S. EV market is highly competitive, with 24 out of 68 mainstream EV models tracked by Cox’s Kelley Blue Book showing year-over-year sales increases, 17 models being new to the market, and 27 experiencing a decrease in sales volume.
There is uncertainty about how sales of all-electric and plug-in hybrid electric vehicles will fare this year, pending potential actions by the incoming Trump administration. Currently, federal subsidies of up to $7,500 are supporting sales of EVs and plug-in electric vehicles, which could be removed by President-elect Donald Trump, along with other EV support measures. Cox Automotive anticipates that 2025 will set another record for EV sales, reaching about 10% of new vehicle sales, with one out of every four vehicles sold being electrified when including hybrids.
