We constantly hear about a slowdown in electric vehicles and how automakers are adapting their electrification systems as consumers consume. And sure, electric car sales have declined in countries like Germany, but in the United States, other people are still buying electric cars, and they’re buying more than they were 12 months ago.
Electric vehicle registrations increased by 5% in October compared to the same month in 2023, up to 101,403, according to information from S
Related: Global electric vehicle sales break records in November thanks to unstoppable growth in China
Chevrolet’s EV sales rose 38% to 6,741, helped by demand from Blazer and Equinox, while Cadillac Lyriq registrations tripled to 2,489 and Hummer displaced 1,015 electric pickup trucks, 4 times more than last October.
Like the Equinox, Honda’s Prologue, which is built on the same GM platform and at the same GM plant in Mexico, won’t be available in 2023, but it made its presence felt this year. It discovered 4,168 homes, just 12 less than Chevrolet with its version. Hyundai’s Ioniq 5 facelift also gave the desired pinch to its sales figures, expanding registrations from 3. 5 to 4. 48.
Although the overall number of EV sales is up, the rate of growth has slowed and some models registered fewer deliveries than previously. The Ford Mustang Mach-E, for instance, was down from 3,949 to 3,479 according to S&P Global Mobility’s spreadsheet and Rivian R1S sales dropped by more than 500 to 2,456. There are also fears that the EV segment relies heavily on tax credit availability to boost demand, and public interest could wane if Trump pulls the plug on the incentives when he takes office.
Tesla’s registration numbers fell 1. 8 percent, and if you exclude Tesla from the equation, electric vehicle sales increased not five percent, but 11 percent. And that’s no challenge for Tesla: The automaker’s numbers fell in seven of the first 10 months. 2024, Auto News reports, and that’s despite the refreshed Model 3 and Cybertruck being new for this year. While the Model 3 gained ground, the Model Y declined, and sales fell from more than 25,000 to less than 22,000.
But before anyone realizes that Tesla is falling behind in the EV race, we’re worth noting that it still outperformed the electric models of the second best-selling logo six times over, or all of the 2nd through 12th logos combined . th place.