Current information reveals 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 keeping with information from S&P World 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 autos, up from 8.5 % the prior yr.
“There’s a lot dialogue about how EVs have slowed down — and so they have — however they definitely haven’t stopped rising,” stated Tom Libby, S&P World 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 the moment nonetheless obtainable although it’s not clear if it can stay that method. Producers additionally deployed a variety of incentives nearing the yr’s finish, which is widespread 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 shedding the tax credit score.”
READ MORE ON U.S. EV REGISTRATIONS: Right here’s what number of EVs had been bought within the U.S. final yr 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 yr. Whereas Kim additionally signaled that Tesla’s model could possibly be beneath stress attributable to 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 dealing with headwinds,” Kim stated. “However there’s a sturdy degree of fairness that’s constructed into the model and a robust popularity.”
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 total listing of December registration information from S&P World Mobility under.
U.S. EV registrations in December 2024, per S&P World Mobility
Credit score: S&P World Mobility
Credit score: S&P World Mobility
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S&P World Mobility sees notable EV gross sales progress for 2025
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