Overview
- S&P Global Mobility data show 59,802 U.S. EVs were registered in January, cutting market share to 5.1% as gasoline and hybrids gained to 76.6% and 14.7%, respectively.
- Tesla remained No. 1 with 32,123 registrations, down 26% year over year, while Cadillac took second with 3,189 and grew 8.1%; Toyota rose 25%, Lucid jumped 97%, and Lexus increased 166% off small bases.
- Automotive News reporting cites consecutive year-over-year declines each month since the Sept. 30 end of the $7,500 federal credit, with analysts calling the downturn a policy-driven reset and a slow adjustment ahead.
- Benchmark Mineral Intelligence estimates February global EV sales fell 11% year over year and are down 8% year-to-date, with Europe up about 21%, North America down roughly 36%, and China’s domestic market off about 26%.
- Carmakers are redirecting battery capacity into energy storage, highlighted by Volkswagen’s Elli switching on a Salzgitter facility rated around 20 MW and 40 MWh, as reports also note some EV model cancellations or pullbacks.