Kicking off 2025 with electrifying news! Cox Automotive’s 2025 Outlook predicts that electric vehicles will make up 25% of all vehicles sold this year. After a record-breaking 2024, the US auto market is on a roll, and it’s going to be the best year since 2019!
With nearly every automaker (except Stellantis and Tesla) posting higher sales, General Motors took the crown in 2024, with Honda and Mazda showing strong growth.
EV sales are set to skyrocket, accounting for approximately 10% of the market, up from 7.5% in 2024. Hybrids and plug-ins will make up about 15%, while ICE vehicles drop to 75%, the lowest on record!
Supporting this growth are 15 new EV models, consumers racing to buy before potential tax credit cuts, state-level incentives, and a rapidly expanding EV charging network.
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