Electric Vehicle Sales Jump Higher in Q4, Pushing U.S. Sales to a Record 1.3 Million
Sales of electric vehicles (EVs) in the U.S., according to the latest counts from Cox Automotive’s Kelley Blue Book, jumped 15.2% year over year in the fourth quarter of 2024 to 365,824, setting a volume record for any quarter. In 2024, full-year EV sales reached 1.3 million, an increase of 7.3% from the upwardly revised total in 2023. Sales of EVs in the U.S. benefited from strong incentives from the automakers, excellent lease deals, and federal and state incentive programs.
Cox Automotive expects further EV sales growth in 2025. With more than 15 new products scheduled to enter the market, improving charging infrastructure, and continued support (i.e., generous incentives) from the automakers, sales of EVs will likely account for close to 10% of total sales this year, up from just over 8% in 2024, according to the Cox Automotive Forecast.
Read the highlights and download the Q4 Electric Vehicle Sales Report.
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