Latest information reveals 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 response to information 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 (through Automotive Information). EVs additionally made up 9.9 % of the general market share of sunshine autos, up from 8.5 % the prior 12 months.
“There’s a lot dialogue about how EVs have slowed down — and so they have — however they actually haven’t stopped rising,” stated Tom Libby, S&P International Mobility analyst. “EVs are alive, and so they’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 at present nonetheless out there although it’s not clear if it would stay that method. Producers additionally deployed a variety of incentives nearing the 12 months’s finish, which is frequent for automakers to spice up gross sales within the fourth quarter.
“December was certainly an irregular month,” stated Ed Kim, AutoPacific president and chief analyst. “There was your customary 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 12 months by mannequin
The analyst additionally stated 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 12 months. Whereas Kim additionally signaled that Tesla’s model might be below stress as a consequence of CEO Elon Musk’s current work for the Trump administration, he additionally says that the model has a considerable repute for its EVs
“I do know the Tesla model is dealing with headwinds,” Kim stated. “However there’s a robust degree of fairness that’s constructed into the model and a powerful repute.”
Tesla as soon as once more dominated the registration information with 65,455 models 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 possibly can see the complete checklist of December registration information 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
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S&P International Mobility sees notable EV gross sales development for 2025
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