Tesla Leads U.S. EV Market in 2024 as Hyundai-Kia Surpass Ford in Sales

U.S. electric vehicle sales hit a record 1.3 million in 2024, with Tesla maintaining dominance despite a slight decline, while Hyundai and Kia collectively outpaced Ford.

• Electric vehicle sales in the U.S. grew 7.3% year-over-year in 2024, reaching 1.3 million units and capturing 8.1% of the auto market.
• Tesla remained the top EV brand with 634,000 vehicles sold, including the best-selling Model Y and Model 3, despite a 5.6% drop in overall sales from 2023.
• Hyundai and Kia collectively sold 117,826 EVs in the U.S., surpassing Ford's 97,865 units, with the Hyundai Ioniq 5 ranking as the fourth best-selling EV model of the year.
• General Motors saw significant growth, selling 114,426 EVs, led by the Chevrolet Equinox EV and Cadillac Lyriq, while Ford's Mustang Mach-E and F-150 Lightning also performed well.
• Analysts predict further EV growth in 2025, expecting sales to reach 1.6 million units and account for 10% of the U.S. auto market, though potential policy changes under the incoming administration could impact incentives.

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