Current knowledge reveals that electrical car (EV) registrations grew considerably in December, amidst uncertainty round whether or not then-incoming U.S. President Donald Trump would remove the $7,500 EV tax credit score.
In keeping with knowledge from S&P International Mobility, EV registrations elevated 25 % in December, with complete battery-electric registrations rising to 144,070 from 115,217 in 2023 (by way of Automotive Information). EVs additionally made up 9.9 % of the general market share of sunshine automobiles, up from 8.5 % the prior 12 months.
“There’s a lot dialogue about how EVs have slowed down — they usually have — however they definitely haven’t stopped rising,” mentioned Tom Libby, S&P International Mobility analyst. “EVs are alive, they usually’re kicking.”
Among the many catalysts for the rise was uncertainty across the Trump administration’s dealing with of the $7,500 EV tax credit score, which is presently nonetheless obtainable although it’s not clear if it’ll stay that method. Producers additionally deployed a variety of incentives nearing the 12 months’s finish, which is widespread for automakers to spice up gross sales within the fourth quarter.
“December was certainly an irregular month,” mentioned Ed Kim, AutoPacific president and chief analyst. “There was your normal year-end offers. However there was additionally the concern and expectation of shedding the tax credit score.”
READ MORE ON U.S. EV REGISTRATIONS: Right here’s what number of EVs have been bought within the U.S. final 12 months by mannequin
The analyst additionally mentioned that the tax credit score may stay in place for months to return, which may assist enhance EV gross sales all through a lot of this 12 months. Whereas Kim additionally signaled that Tesla’s model could possibly be beneath stress resulting from CEO Elon Musk’s latest work for the Trump administration, he additionally says that the model has a considerable status for its EVs
“I do know the Tesla model is going through headwinds,” Kim mentioned. “However there’s a sturdy stage of fairness that’s constructed into the model and a robust status.”
Tesla as soon as once more dominated the registration knowledge with 65,455 items registered, as adopted by Ford (13,187), Chevrolet (10,133), Honda (7,583), and Hyundai (6,368), which made up the remainder of the highest 5 name-plates. You’ll be able to see the total record of December registration knowledge from S&P International Mobility under.
U.S. EV registrations in December 2024, per S&P International Mobility
Credit score: S&P International Mobility
Credit score: S&P International Mobility
What are your ideas? Let me know at [email protected], discover me on X at @zacharyvisconti, or ship us ideas at [email protected].
S&P International Mobility sees notable EV gross sales progress for 2025
Want equipment on your Tesla? Take a look at the Teslarati Market:
