Latest knowledge exhibits that electrical automobile (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 knowledge from S&P International Mobility, EV registrations elevated 25 % in December, with whole 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 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 actually haven’t stopped rising,” stated 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 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 commonplace year-end offers. However there was additionally the worry and expectation of shedding the tax credit score.”
READ MORE ON U.S. EV REGISTRATIONS: Right here’s what number of EVs had been offered within the U.S. final 12 months by mannequin
The analyst additionally stated that the tax credit score may stay in place for months to come back, 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 underneath stress on account of CEO Elon Musk’s current 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 going through headwinds,” Kim stated. “However there’s a robust degree 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’ll be able to see the complete listing 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
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S&P International Mobility sees notable EV gross sales development for 2025
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