US President Donald Trump revoked a 2021 executive order by Joe Biden targeting 50 percent of new vehicle sales to be electric by 2030. He also plans to reconsider emissions rules requiring automakers to sell 30 percent to 56 percent EVs by 2032. The previous target, though not legally binding, had the support of automakers.
Electrified vehicle sales, including hybrids and EVs, accounted for 20 percent of U.S. new car and truck sales last year, reaching over 3.2 million units. Fully electric models made up 1.3 million of those sales, while hybrids, including plug-ins, totaled 1.9 million. Gasoline and diesel vehicles fell to 79.8 percent of sales, marking the first time they dropped below 80 percent, CNBC news report said.
Tesla remained the EV leader but saw its market share drop to 49 percent, with the Model Y and Model 3 as top sellers. Hyundai, General Motors, Ford, and BMW followed in market share rankings. The EV market expanded with 68 models tracked, 24 posting sales increases, 17 launching as new entries, and 27 experiencing declines.
Uncertainty surrounds future EV sales as the incoming Trump administration may remove the $7,500 federal tax credit and other EV incentives, Reuters news report said. Despite this, Cox Automotive predicts record EV volume in 2025, with EVs expected to comprise 10 percent of new vehicle sales and electrified models accounting for 25 percent.
GreentechLead.com News Desk