The year 2024 saw a significant surge in the sales of electric vehicles (EVs) in the United States, with a total of 1.3 million EVs sold throughout the year. This marked a 7.3% increase compared to the previous year, showcasing the growing popularity of EVs among American consumers.
Data from Cox Automotive’s Kelley Blue Book revealed that EVs accounted for 8.1% of all new car sales in 2024, up from 7.8% in 2023. In the fourth quarter of 2024 alone, a record-breaking 365,824 EVs were sold, representing a 15.2% increase year-over-year.
Despite the overall growth in EV sales, Tesla’s Model Y and Model 3 remained the top-selling EVs in 2024, collectively making up over 40% of total sales. However, both models experienced a decline in sales, with Tesla selling an estimated 37,000 fewer vehicles compared to the previous year.
On the other hand, General Motors and Honda had a successful year in terms of EV sales, collectively adding nearly 80,000 units to the market. Honda’s new Prologue EV, launched in 2024, proved to be a hit with consumers, selling over 33,000 units in its first year.
Ford’s Mustang Mach-E emerged as the best-selling EV not produced by Tesla, followed by Hyundai’s Ioniq 5. The highly anticipated Tesla Cybertruck made its debut as the fifth best-selling EV, just ahead of the Ford F-150 Lightning.
Out of the 68 EV models tracked in the U.S., 24 saw an increase in sales, while others like the Chevrolet Bolt and Mazda MX-30 were discontinued. Despite the overall growth in EV sales, the rate of growth in 2024 was slower compared to the previous year’s 49% spike. Factors such as generous incentives, competitive lease deals, and the launch of new EV models contributed to the increase in sales.
Looking ahead to 2025, Cox Automotive predicts another record-breaking year for EVs, with sales potentially accounting for 10% of total vehicle sales. The Top 10 Best-Selling EVs in 2024 included the Tesla Model Y, Tesla Model 3, Ford Mustang Mach-E, Hyundai Ioniq 5, Tesla Cybertruck, Ford F-150 Lightning, Honda Prologue, Chevrolet Equinox, Cadillac Lyriq, and Rivian R1S.