New Tesla cars are on display at a Tesla dealership on December 20, 2024 in Corte Madera, California.
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DETROIT — Sales of fully electric vehicles and hybrid models reached 20% of new car and truck sales in the United States for the first time last year — marking a pivotal year for “green” vehicles, but at a slower pace than many had previously anticipated. .
Automotive data firm Motor Intelligence reports that more than 3.2 million “electrified” vehicles were sold last year. This includes 1.9 million hybrid vehicles, including plug-in models, and 1.3 million fully electric models.
Sales of traditional vehicles with gasoline or diesel internal combustion engines continued to dominate, but fell to 79.8%, falling below 80% for the first time in modern automotive history, according to the data.
Regarding sales of pure electric vehicles, Tesla continued to dominate, but Cox Automotive estimated that its annual sales fell and its market share fell to about 49%, down from 55% in 2023. The Tesla Model Y and Model 3 were estimated to be the most popular electric vehicles more sold in 2024.
Following Tesla in electric vehicle sales was Hyundai engineincluding Kia, with 9.3% electric vehicle market share; General engines at 8.7%; and then Ford engine at 7.5%, according to Motor Intelligence. BMW completes the top five with 4.1%.
The U.S. electric vehicle market is highly competitive: of the 68 mainstream electric vehicle models tracked by Cox’s Kelley Blue Book, 24 models saw year-over-year sales increases; 17 models were brand new on the market; and 27 decreased in volume.
There is even more uncertainty about how sales of all-electric and plug-in hybrid vehicles will fare this year, pending potential actions from the new Trump administration.
Currently, sales of electric vehicles and plug-in electric vehicles are subsidized by a federal credit of up to $7,500 for the purchase of one of these vehicles, which President-elect Donald Trump could eliminate, as well as by d other aid for electric vehicles.
Cox Automotive expects 2025 to set a new record for electric vehicle volume, at approximately 10% of new vehicle sales. Including hybrids, the company expects one in four vehicles sold to be electrified this year.
— CNBC’s Phil LeBeau contributed to this report.
