Current knowledge exhibits that electrical car (EV) registrations grew considerably in December, amidst uncertainty round whether or not then-incoming U.S. President Donald Trump would get rid of the $7,500 EV tax credit score.
In line 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 autos, up from 8.5 % the prior yr.
“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 accessible although it’s not clear if it’ll stay that approach. Producers additionally deployed a variety of incentives nearing the yr’s finish, which is frequent 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 dropping the tax credit score.”
READ MORE ON U.S. EV REGISTRATIONS: Right here’s what number of EVs have been offered within the U.S. final yr by mannequin
The analyst additionally mentioned that the tax credit score might stay in place for months to return, which might assist enhance EV gross sales all through a lot of this yr. Whereas Kim additionally signaled that Tesla’s model could possibly be underneath stress as a consequence of CEO Elon Musk’s latest work for the Trump administration, he additionally says that the model has a considerable popularity for its EVs
“I do know the Tesla model is dealing with headwinds,” Kim mentioned. “However there’s a robust stage of fairness that’s constructed into the model and a robust popularity.”
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 may see the complete listing of December registration knowledge from S&P International Mobility beneath.
U.S. EV registrations in December 2024, per S&P International Mobility
Credit score: S&P International Mobility
Credit score: S&P International Mobility
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S&P International Mobility sees notable EV gross sales development for 2025
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