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Plug-in light vehicle (PEV) sales reached nearly *** million units in the United States in 2024. U.S. sales of all-electric and plug-in hybrid electric vehicles peaked that year, after a first increase in 2018 as deliveries of Tesla's Model 3 picked up steam. In 2024, Tesla sales declined, but other manufacturers picked up sales. Still, compared to 2021 and 2022, not many new models were introduced, and most were priced highly.

The road to consumer adoption 

While the sale of electric vehicles has picked up steam in the United States, consumer purchase intentions are still below those for traditional internal combustion engine vehicles. Some ** percent of U.S. consumers considered purchasing a fully electric vehicle when buying a car, according to the ÌÇÐÄÆƽâ°æ Consumer ÌÇÐÄÆƽâ°æ survey, compared to ** percent of consumers considering purchasing a regular gasoline vehicle when buying a car. The time required to charge a battery-electric vehicle (BEV) was U.S. consumers' main concern as of October 2023, followed by BEVs' driving range and their cost or price premium. In an attempt to boost electric vehicle adoption, the U.S. government has allocated financial incentives for the purchase of such vehicles.     

New players and market leaders

Tesla dominated the U.S. electric vehicle market in 2024, selling over half a million BEVs in the country that year. Ford and Chevrolet completed the top three, making the three best-selling BEV brands in the United States all domestic manufacturers. This success has attracted electric vehicle startups such as Lucid Motors, which produced the battery-electric vehicle with the longest driving range as of Model Year 2022, and Rivian. However, these companies are yet to be profitable, reporting net losses during the 2020, 2021, and 2022 fiscal years.