Why U.S. EV Adoption Is Stuck at 8% Despite More Models and Incentives
- by Torque News
- Jan 20, 2025
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Electric vehicles grew slightly in 2024 vs. 2024 in total deliveries, but the share of the U.S. market that EVs capture has barely budged. The two pie charts above illustrate the 2023 and 2024 market share of EVs in the U.S. Can you see any difference?
Cox Automotive is our go-to source for vehicle delivery data in the U.S. market. Here are facts reported by Cox Automotive in its most recent Data Point overview:
EV share went up from 7.8% in 2023 to 8.1% in 2024.
4 EV brands had lower deliveries in 2024 vs. 2023, including Tesla.
More than 11 brands saw increased EV deliveries, including Toyota.
The largest overall gains by a brand were from Honda. Since it started from zero.
Total EV deliveries increased by about 87,000 units from 2023 to 2024.
Q4 was the best quarter in many ways in 2024 for EV deliveries, which is normally the case.
Cox tracked 68 different EV models in 2024.
Tesla’s Model 3 and Model Y account for about 40% of the entire U.S. EV market.
Cox Predicts that EVs may earn as much as 10% of the EV market in 2025, mainly due to new EV models entering the market.
More EV models lost sales in 2024 than gained sales (vs. 2023)
24 EV models posted year-over-year delivery increases, while 27 decreased Rivian R1S
Notable is how huge the gap is between the second-best-selling EV in America and the third. The Mustang Mach-E had deliveries of just 51,745 units. Tesla’s Model Y and 3 are estimated to be in the hundreds of thousands of units. Cox estimates that the Tesla Cybertruck is the fifth-leading EV in America. Yet, Tesla sells so few Cybertrucks the Tesla doesn’t even bother to mention the word Cybertruck in its quarterly and annual delivery reports. The model is grouped with the low-volume and failing models that Tesla still delivers in very limited quantities.
We’ll leave the analysis to our readers. Feel free to tell us in the comments below if you think 0.3% market share gain from 2023 to 2024 indicates success or failure for battery-electric vehicles in 2024.
Note: The term EV in this story refers to battery electric, a.k.a. battery-only vehicles. PHEVs are not included by Cox Automotive when it refers to “EVs” or “Electric Vehicles.”
John Goreham is a credentialed New England Motor Press Association member and expert vehicle tester. John completed an engineering program with a focus on electric vehicles, followed by two decades of work in high-tech, biopharma, and the automotive supply chain before becoming a news contributor. He is a member of the Society of Automotive Engineers (SAE int). In addition to his eleven years of work at Torque News, John has published thousands of articles and reviews at American news outlets. He is known for offering unfiltered opinions on vehicle topics. You can connect with John on Linkedin and follow his work on his personal X channel or on our X channel. Please note that stories carrying John's by-line are never AI-generated, but he does employ Grammarly grammar and punctuation software when proofreading.
Pie chart of 2024 EV deliveries in America by John Goreham. Data courtesy of Cox Automotive.
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