EV Sales To Fall In US For First Time Since 2019: Trump's Big Beautiful Bill Could Be At Fault

Benzinga_recent_news07:55

The year 2025 could go down as the best of times and the worst of times for the electric vehicle sector. • What’s next for TSLA stock? Companies such as Tesla Inc (NASDAQ:TSLA) reported record ...

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Cox Automotive estimates that 230,000 electric vehicles will be sold in the fourth quarter, down 46% from a record third quarter and down 37% year-over-year.\n\"The year was defined by extreme volatility driven by policy change,\" Cox Automotive Director of Industry Insights Stephanie Valdez Streaty said.\nThe year-over-year decline in electric vehicle estimates comes with a prediction that the overall vehicle market will be up 2% year-over-year for the U.S.\nCox Automotive's prediction for electric vehicle sales in 2025 was 1.6 million units at the end of 2024.\nRead Also: Forget Deliveries: Analyst Says They ‘Likely Won’t Matter’ For Tesla Stock\nThe electric vehicle market experienced a boom in recent years, with the Tesla Model Y and Model 3 helping to boost popularity and demand in the U.S. That was followed by other automotive companies adding battery-powered electric vehicles to their lineups.\nThings may quickly go in the opposite direction with legacy automakers like Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) changing their plans to rapidly build out lineups of electric vehicle options.\nFord recently announced it was ending production of the F-150 Lightning, the bestselling electric pickup truck in the U.S.\nThe federal EV tax credit helped make vehicles more affordable for consumers and likewise helped boost demand. The credit ended in September after the passing of the Big Beautiful Bill, which was supported by President Donald Trump and Republican members of Congress.\nThe timing of the expiration led to a record of over 400,000 electric vehicles being bought in the third quarter as consumers took advantage of the last three months to get the federal EV tax credit.\n\"The policy changes created a reset moment, but the transition continues — just on a different timeline than anticipated,\" Valdez Streaty told InsideEVs.\nThe decline in EV deliveries in the U.S. for 2025 could be a moment to remember, with Cox Automotive predicting that deliveries will hit 1.3 million units in 2026, up from 2025 and back to 2024 levels.\nRead Next: \nPhoto: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593596854","isCrawlerRequest":true}