EV, Hybrid Sales Reached Record 20% of US Vehicle Sales In 2024

Sales of electric vehicles and hybrids reached 20% of new car sales in the U.S. last year, with Tesla maintaining dominance in the EV market despite a slight decline in market share. CNBC reports: Auto data firm Motor Intelligence reports more than 3.2 million "electrified" vehicles were sold last year, or 1.9 million hybrid vehicles, including plug-in models, and 1.3 million all-electric models. Traditional vehicles with gas or diesel internal combustion engines still made up the majority of sales, but declined to 79.8%, falling under 80% for the first time in modern automotive history, according to the data.

Regarding sales of pure EVs, Tesla continued to dominate, but Cox Automotive estimated its annual sales fell and its market share dropped to about 49%, down from 55% in 2023. The Tesla Model Y and Model 3 were estimated to be the bestselling EVs in 2024. Following Tesla in EV sales was Hyundai Motor, including Kia, at 9.3% of EV market share; General Motors at 8.7%; and then Ford Motor at 7.5%, according to Motor Intelligence. BMW rounded out the top five at 4.1%. The EV market in the U.S. is highly competitive: Of the 68 mainstream EV models tracked by Cox's Kelley Blue Book, 24 models posted year-over-year sales increases; 17 models were all new to the market; and 27 decreased in volume.

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