Analysts predict that between 16.2 million and 16.3 million new cars could be sold across the United States next year. This would mark the strongest year in sales since 2019, up from the projected 15.98 million cars sold this year.

Several factors could contribute to a sales boost in 2025. The Federal Reserve recently cut interest rates for the third time this year, and inventory has started to improve in the second half of the year. Additionally, the average transaction price for new cars in 2024 is $47,465, or 0.8% lower than in 2023. Prices remain 27.2% higher than in 2019 however, when roughly 17 million new vehicles were sold in the US.

Read: Electrified Vehicles Grab Over 20% Of US Market Share With Hybrids Leading The Way

S&P Global Mobility and Edmunds estimate that 16.2 million new vehicles will be sold in 2025. Analysts from Cox Automotive put that figure closer to 16.3 million. This jump could happen despite the estimated price hikes due to the tariffs expected to be enforced by the Trump administration.

Edmunds believes that new tariffs “could dramatically increase vehicle prices” and that the added cost will be passed on to consumers. It’s possible that scrapping the $7,500 federal EV tax credit could slow sales of electric vehicles. However, there may be a temporary increase in EV sales before the credit is ditched as buyers could rush in and get a deal while they can. Cox Automotive says 10% of new vehicles sold next year could be BEVs, and 25% of new vehicle sales will be electrified.

“The tariffs proposed by the incoming president might not be more than negotiation tactics, but if they were enacted they would likely affect the costs of nearly all goods and services — not just car prices,” Edmunds’ head of insights Jessica Caldwell said. “Consumers would have less disposable income and automakers would likely need to increase incentive spending just to move metal. Things could get interesting if automakers consider stop-gap solutions such as reviving used vehicle leasing or subscription services, or devising completely new models in order to offer vehicles at less cost to the consumer.”

If tariffs are enforced, the price gap between new and used cars is expected to grow, pushing more shoppers towards a used vehicle. This year, the average transaction price for used vehicles was $27,252, a 5.4% decrease compared to 2023.

We’re constantly hearing about an EV downturn and how automakers are changing their electrification strategies because consumers aren’t consuming. And sure, sales of electric cars are down in countries like Germany, but in the US people are still buying EVs, and they’re buying more of them than they did 12 months ago.

EV registrations climbed 5 percent in October versus the same month in 2023, topping out at 101,403, according to data from S&P Global Mobility. And it wasn’t Tesla driving that growth, but legacy automakers.

Related: Global EV Sales Shatter Records In November Thanks To China’s Unstoppable Growth

Chevrolet’s EV sales jumped 38 percent to 6,741 helped by demand for the Blazer and Equinox, while Cadillac Lyriq registrations grew threefold to 2,489 and the Hummer shifted 1,015 electric trucks, four times as many as it did last October. 

Like the Equinox, Honda’s Prologue, which is built on the same GM platform and in the same Mexican GM plant, wasn’t available in 2023, but made its presence felt this year. It found 4,168 homes, only 12 fewer than Chevy did of its version. Hyundai’s Ioniq 5 facelift also gave its sales numbers the desired nip and tuck, boosting registrations from 3,555 to 4,485.

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.

BEST SELLING EVs USA

Tesla’s registration numbers actually fell by 1.8 percent, and if you remove Tesla from the equation, EV sales increased not by 5 percent, but by 11 percent. And this isn’t a blip for Tesla: the automaker’s numbers have fallen in seven of the first 10 months of 2024, Auto News reports, and that’s despite the facelifted Model 3 and Cybertruck being new for this year. While the Model 3 gained ground, the Model Y fell back, sales tumbling from more than 25,000 to under 22,000.

But before anyone gets the idea that Tesla is falling behind in the EV race, we should make clear that it still outperformed the second best-selling brand’s EV models six times over. Or every single brand in the 2nd to 12th spots combined.

EV REGISTRATIONS USA

While automakers navigate shifting electrification strategies, the global electric vehicle market continues to grow steadily. November 2024 set yet another sales record, with 1.8 million EVs sold worldwide, bringing the year-to-date total to an impressive 15.2 million units.

More: China’s Growing Love For EVs Has Oil Companies Freaking Out

According to market research firm Rho Motion, November marked the third consecutive month of record-breaking EV sales, with an additional 100,000 units sold compared to October’s previous high. This represents a sharp 32 percent leap from November 2023.

China Leads the Charge

Unsurprisingly, China continues to dominate the EV stage by a huge margin with an astonishing 1.3 million units sold in November, accounting for nearly 70 percent of global sales. Much of this growth came from rising demand for models produced by Geely, Tesla, and Changan, bolstered by China’s aggressive push toward electrification.

Between January and November 2024, China’s EV sales soared by 40 percent year-over-year, reaching a remarkable 9.7 million units and dwarfing sales in all other regions.

The global tally of 15.2 million EVs sold between January and November 2024 represents a 25 percent increase compared to the same period last year. Breaking this down, China was followed by the European Union, EFTA (Iceland, Liechtenstein, Norway, and Switzerland) and the UK at 2.7 million (-3%), the US and Canada at 1.6 million (+10%), and the rest of the world contributing 1.1 million (+25%).

Regional Gains and Setbacks

In Europe, major markets like Germany, France, and Italy are experiencing a slowdown, with year-to-date sales shrinking by 3 percent. However, the UK stands out as an exception, posting a 17 percent increase in sales thanks to stronger demand in the second half of 2024. Still, uncertainty looms as the UK government considers scaling back its EV mandate, citing feasibility concerns.

Across the Atlantic, the US and Canada have maintained a steady 10 percent increase in EV sales year-to-date, totaling 1.6 million units sold so far. Donald Trump’s recent election victory is expected to trigger a year-end rush for zero-emission vehicles, as buyers hurry to claim Biden-era tax credits before they risk being cut next year.

Charles Lester, Data Manager at Rho Motion, commented: “This quarter has picked up significantly for EV sales globally as we see record-breaking month after record-breaking month. However, the regional picture is somewhat uneven with Europe shrinking 3% this year so far, and once more China accounts for over two-thirds of the electric vehicles sold in November.”

China’s EV market is booming. Sales of fully electric and hybrid cars have trebled over the last three years and are almost eight times higher than they were in 2020. It’s a great time to be an automaker selling electrified vehicles, but not so great if you’re an exec in the oil industry.

Almost one-fifth of the world’s oil production currently goes to China. The country has provided most of the industry’s growth since the millennium, as it has for the auto industry and others. But now analysts think China’s love for EVs will result in a marked drop in demand for gasoline, which accounts for 25 percent of the nation’s oil consumption.

Related: China Becomes First Country To Hit 1 Million Monthly EV Sales

One brokerage firm told reporters it expects Chinese gasoline use to drop by between 4 and 5 percent every year between now and the end of the decade. A demand reduction was always forecast, but China’s electric boom means it’s happening much faster than many experts had anticipated.

One in 10 cars currently on the road in China is electrified, but at the current sales rate, the mix is expected to double by 2027 and could reach 100 percent by the 2040s, Anders Hove, a China researcher at the Oxford Institute for Energy Studies, told Bloomberg.

That kind of shift would have a devastating impact on the oil industry, Hove predicting that China’s oil demand for light vehicles would plummet from its current 3.5 million barrels per day to just 1 million by 2040.

Though that’s a major problem for Big Oil, it can at least take some comfort in knowing that other nations are in far less of a rush to abandon their combustion cars – EVs only account for 10 percent of US car sales. And even in China, a big chunk of the growth in electrified vehicles has come from sales of PHEVs, which still need some gasoline, though exactly how much they need in real ownership scenarios across China still needs more investigation.

The German automotive industry is facing difficult times, caught in a storm of strikes, internal tensions at the Volkswagen Group, cost-cutting measures at Mercedes, Ford and BMW, and shifting market dynamics putting pressure on all brands. While the new vehicle market managed to hold its ground in November with 244,544 passenger car sales—a slight 0.5% dip compared to the previous year—the real drama is unfolding in the EV sector, where sales have taken another hit.

EVs Struggle in Germany’s Post-Subsidy World

The numbers don’t lie: EVs are in deep trouble in Europe’s largest market. According to figures released by the country’s Federal Motor Transport Authority (Kraftfahrt-Bundesamt – KBA), November didn’t bring any relief, with EV sales plunging by 22% year-over-year. A total of 35,167 new electric vehicles were registered that month, accounting for 14.4% of all new registrations. While that’s still a decent share, it looks like they’ll struggle to meet the ambitious targets set just a few years ago.

More: Ford EV Sales Surge 21%, But F-150 Lightning Falls 17%, ICE Mustang Crashes 45%

Much of the current slump can be traced back to the German government’s decision to end subsidies for electric cars at the end of 2023. At the time, Transport Minister Volker Wissing argued that the EV market should be able to stand on its own without public aid, claiming that permanent subsidies aren’t a sustainable solution. It seems, however, the market isn’t quite ready to walk unaided. As Germany grapples with its EV slowdown, eyes will turn to other major European markets, like France and Spain, where similar subsidy cuts are on the horizon for 2025. Will they see the same fate?

Hybrids Keep the Flame Alive

If EVs are sputtering, hybrids are thriving in Germany. In November, 94,554 hybrid vehicles found new homes, marking an impressive 20.3% increase from the same month last year. Of these, 20,604 were plug-in hybrids, showing a 13.7% uptick. Hybrids now account for a solid 38.7% of all new registrations, proving that consumers are still drawn to greener options, but perhaps with a foot in both worlds.

More: America’s Best-Selling EVs In 2024

Meanwhile, traditional fuel-powered cars are showing mixed results. Gasoline-powered vehicles dipped by 5.4%, while diesel saw a sharper decline of 7.5%. LPG-powered cars, despite their niche appeal, recorded a modest 3.2% gain, though they still occupy a negligible share of the market.

Tesla and Polestar: The EV Struggles Continue

It’s not just the overall market that’s feeling the pressure; EV makers themselves are getting hit hard. Tesla, the top dog in the electric revolution, posted a dramatic 55.1% drop in sales in November, delivering just 2,103 units in Germany. Year-to-date, Tesla’s German sales have fallen by 43.6%, with only 33,669 units sold so far. And it’s not just Tesla that’s in trouble. Polestar, another EV-only manufacturer, saw its November sales plummet by 26%, with a massive 52.6% drop in total sales for the year.

Rising Stars and Declining Imports

While EV makers are in a pinch this year, some traditional and import brands are seeing a turnaround. Toyota, the poster child of hybrids, for instance, had a spectacular November, with sales up 104.5%, securing 4.2% of the market share. Peugeot (+78.5%), Citroen (+16.9%), and Skoda (+16.5%) also posted impressive gains. On the flip side, several high-volume import brands are heading in the opposite direction. Fiat saw a steep 39.1% decline, while Kia (-16.9%), Mazda (-14.3%), Hyundai (-11.8%), and Renault (-0.9%) all delivered negative growth in new registrations.

The Outlook for Germany’s Auto Industry

In sum, Germany’s automotive market remains a study in contrasts: steady sales overall, but with a marked shift away from pure electric vehicles. With the government scrapping subsidies and EV makers stumbling, the future of electric mobility in Germany appears less certain than ever. Meanwhile, hybrids are enjoying a surge, proving that the internal combustion engine still has life left in it. No doubt, it’s a confusing time for the auto industry, one that might require more than just a policy shift to right the ship. What’s more, it brings the EU’s ban on ICE-powered cars that’s set for 2035 into question, as buyers may not be ready yet for such a huge change.

PASSENGER CAR SALES GERMANY

Mazda is riding high in the U.S. market in 2024, on track to smash its all-time sales record with expectations to hit over 400,000 units. In an industry still reeling from uncertainty, the Japanese automaker is sticking to its guns, pursuing a multi-pronged approach to powertrain development that spans combustion, hybrid, plug-in hybrid, range-extender, and electric models. It’s a strategy that seems to be paying off, at least for now.

2024: A Year of Record-Breaking Sales

Speaking with Auto News, CEO Masahiro Moro forecasted U.S. sales will reach between 410,000 and 420,000 units by the end of 2024, with growth possibly extending into 2025—up to 450,000 units, no less. Quite the prediction, especially when you consider the volatility in the market. So far, Mazda has moved 384,181 vehicles year-to-date, marking an 18.6% uptick compared to 2023. November alone was a record-setter, with 33,422 units sold, making it the brand’s best November performance to date.

More: Mazda Working On Two-Rotor Engine Tech To Satisfy America’s Thirst For Power

Despite being a relative old-timer, the CX-5 remains the best-selling Mazda with 8,733 units in November and 122,954 units year-to-date. Other key models like the CX-30 (87,640 units), the CX-50 (73,358 units), and the CX-90 (48,681 units). round out the top-sellers.

As for non-SUV offerings, the Mazda3 hatchback and sedan have sold a cumulative 34,830 units so far in 2024. Meanwhile, the MX-5 had its best November since 2006, with 798 monthly sales, representing a 76.9% increase compared to November 2023. However, its year-to-date figure of 7,489 units is down a significant 12.4%.

EV, Hybrid, And ICE Development

While Mazda has made some strides in hybrid and electric technology, Moro remains clear-eyed about the brand’s powertrain direction. His expectation? By 2030, hybrid and internal combustion engine (ICE) vehicles will still make up about two-thirds of Mazda’s U.S. sales. That leaves a third for plug-in hybrids (PHEVs) and full EVs, a reasonable outlook given the current landscape. In the short term, Moro predicts that hybrids will account for roughly 40% of Mazda’s U.S. sales, a notable shift toward electrification, but still firmly rooted in the present.

EV Investment, But Not a Rush to the Finish Line

Despite the slower-than-anticipated EV uptake, Mazda isn’t abandoning its electric dreams. The company is continuing to pour resources into the development of fully electric vehicles, but with a more measured approach. According to Moro, pushing back the EV rollout gives them “a little more time for technology development,” a reassuring spin on an otherwise cautious strategy.

More: Ford EV Sales Surge 21%, But F-150 Lightning Falls 17%, ICE Mustang Crashes 45%

By 2027, Mazda will have completed the in-house development of its first EV-dedicated platform and its own hybrid powertrain. Furthermore, the company is working on next-gen, high-density lithium-ion batteries, also being developed in-house, with a 2030 target for PHEVs and EVs. Mazda is also building a “very advanced research base” for solid-state battery technology.

The Rotary Is Coming Back

We also have official confirmation that Mazda is developing a twin-rotor rotary engine for the U.S. market, likely to serve as a range extender in a hybrid setup. While Moro didn’t provide a specific launch timeline, he did mention that Mazda is close to meeting the emissions regulation targets.

Skyactiv-Z: Mazda’s Ultimate ICE Engine

Finally, the brand’s focus isn’t solely on electrification. Mazda is deep into developing its Skyactiv-Z powertrain, described by Moro as the “ultimate” combustion engine, with “unprecedented efficiency.” Set to arrive by 2027, the Skyactiv-Z promises to push Mazda’s internal combustion efforts “beyond 2030,” likely extending the lifespan of its gasoline engines in a world that’s increasingly electrifying. Alongside this, Mazda is working on the successor to the ever-popular CX-5, with high hopes of keeping its sales momentum alive for years to come.

November’s performance for the Honda Group was a tale of contrasts, most notably the continued decline in sales of Acura’s two remaining sedans, the Integra and TLX. But in the midst of these disappointing numbers, there are a few bright spots, including the Honda Prologue. Let’s dive into the details.

Prologue Breaks Records

In November, Honda delivered 6,823 units of its electric Prologue SUV, setting a new monthly sales record. Since its launch in April this year, the Prologue has moved a total of 25,132 units, a respectable figure for a vehicle still finding its place in the competitive electric SUV market. Developed in collaboration with General Motors, the Prologue is built on the same Ultium battery architecture and BEV3 platform as the Chevrolet Blazer EV, Acura ZDX, and Cadillac Lyriq, and is manufactured by GM.

More: These Are The Best Selling EVs Of 2024 Up Until Now

What makes the Prologue particularly impressive is its ability to outpace GM’s own offerings based on the same platform. In the third quarter of 2024, the Prologue sold 12,644 units, easily surpassing the Chevy Blazer EV (7,998 units) and the Cadillac Lyriq (7,224 units). Ouch. It’ll be interesting to see how the Prologue fares at the end of Q4, especially when GM’s results come in, given that the company has stopped releasing monthly sales reports.

Sales Snapshot: Honda vs. Acura

Overall, Honda and Acura saw an uptick of 14.5% in November, with total sales reaching 121,419 units. Year-to-date, they’re up 8.7%, tallying 1,288,260 units. Breaking it down, Honda had a solid November, with sales increasing 15.9% (110,020 units) and an 11.1% rise year-to-date (1,168,890 units). On the flip side, Acura took a hit, with sales dropping 10.1% in November. Year-to-date, however, Acura is still up a modest 2.6%.

Accord, Integra, and TLX: Supply Chain Struggles

Honda has been quick to blame the struggles of some of its key models, like the Accord, Integra, and TLX, on supply chain constraints. Specifically, the retooling of the Marysville Auto Plant to establish Honda’s EV Hub in Ohio has caused production delays. While this might explain some of the shortfall, it doesn’t do much for the dealerships facing disappointed customers looking for the latest sedans.

Honda Pilot Soars, Acura Stumbles

The biggest success story from Honda and Acura in November was the Honda Pilot, which saw sales soar by 38.5%, reaching 12,652 units. Other popular Honda models like the CR-V (+9.5%), Civic (+9.1%), Odyssey (+12.2%), and HR-V (+18.3%) also posted solid gains.

Acura, on the other hand, had a rough month, with only the MDX SUV (+6.2%) managing to show a positive sales trend in November, moving 3,386 units. The rest of the lineup didn’t fare well, with the Integra and RDX falling 18.5% and 8.3%, respectively. Looks like Acura’s luxury ambitions are facing a rather painful reality check.

November is crunch time for automakers, with year-end targets looming and holiday deals in full swing. For Hyundai, it was a strong finish as the Korean carmaker posted its best-ever November sales performance in the U.S. with a total of 76,008 vehicles delivered. That marks an 8% increase compared to the same month last year, fueled in part by the rising popularity of its electrified models.

Among the standout performers is the Ioniq 5, which racked up 4,989 sales in November—more than double its numbers from the same time last year. This marks the EV’s best month in the U.S. since its launch, even with the recent announcement of the updated 2025MY landing in dealerships soon. Strong incentives, including attractive lease offers, undoubtedly played a key role in its success.

More: New Hyundai Ioniq 9 Lands With Three-Rows And Massive 110.3 kWh Battery

By comparison, the Ioniq 6 sedan delivered just 1,121 units. While that’s a far cry from the Ioniq 5’s numbers, it’s still a significant improvement over September’s 599 units. Clearly, Hyundai’s electric sedans still have some catching up to do, but the growing consumer appetite for its SUVs is hard to ignore.

Other hybrid and plug-in hybrid models also had strong performances, including the Santa Fe HEV, Tucson HEV, and Tucson PHEV, which all posted their best-ever November sales. Hyundai’s strategy to offer electrified options across its most popular models is paying off.

A Sonata Surprise

Not all the buzz is reserved for the EVs. The biggest surprise came from an unlikely source: the Hyundai Sonata. Long considered a shrinking segment, sedans don’t typically deliver massive sales gains, but the Sonata bucked that trend with a 200% increase year-over-year. A total of 6,971 units sold last month contributed to a 46% boost in year-to-date sales.

Meanwhile, the Palisade maintained its momentum, recording a solid 33% year-to-date sales increase compared to 2023. In contrast, the Santa Fe SUV and Santa Cruz pickup truck struggled to keep pace, with year-to-date sales down by 12% and 11%, respectively.

Looking at the bigger picture, Hyundai’s top three best-sellers in the U.S. market for 2024 remain the Tucson (185,954 units), Elantra (125,113 units), and Santa Fe (105,701 units).

More: New EV Sales Up 7%, Used EVs 64% Up Over Last Year

Hyundai Motor America CEO Randy Parker credits this record-breaking November to the growing success of its electrified models, which have seen a 77% increase in EV sales year-to-date and 104% jump in hybrid sales. Parker’s optimism extends into 2025, as he highlighted the debut of the U.S.-built Ioniq 9, a three-row EV SUV with a massive 110.3-kWh battery that’s scheduled to hit the market next year. “We can’t wait to bring it to market,” Parker noted.

Below is a detailed breakdown of Hyundai’s U.S. sales for November 2024 compared to the same period last year.

HYUNDAI US SALES

BYD was the sixth-largest automaker in the third quarter of this year, selling more new vehicles than Ford for the first time in its history. It may even end the year having sold over 4 million vehicles and could overtake Ford for the entire 2024.

During the July-September period, BYD sold 1.13 million vehicles, representing a 38% increase from the same period last year and making it the most successful quarter ever for the brand. Ford sold approximately 40,000 fewer vehicles over the same period, slipping from the sixth-largest car manufacturer to seventh. Ford was holding on to a narrow lead for the January-September period, having delivered 3.3 million vehicles globally, slightly ahead of the 3.25 billion shipped by BYD.

Read: Leaked BYD Email Pressures Suppliers To Slash Costs For 2025 EV Price Wars

BYD is not the only Chinese company giving traditional legacy automakers something to worry about. Sales at Geely jumped 14% through the third quarter after it delivered 820,000 vehicles. That placed it ahead of Nissan and behind Honda in ninth position. China’s third-largest car manufacturer, Chery, also rose to 12^th in the ranking, reporting a 27% rise in sales to 550,000 units.

As Nikkei Asia reports, sales of many brands from Japan, Europe, and the US fell last quarter. For example, Toyota’s sales dropped 4% to 2.73 million, although it still holds a commanding lead over the VW Group which reported a 7% decline in sales to 2.17 million vehicles. Hyundai Motor Group retained its position in third, but its sales also fell, down 3% to 1.77 million units. Things were even worse at Stellantis as its sales plummeted by 20% to 1.14 million.

A surge in sales for brands like BYD is boosting their financials, too. During the third quarter, the carmaker posted revenues of 201 billion yuan, the equivalent of $27.6 billion, higher than Tesla at $25.2 billion.

Love them or hate them, electric vehicles can deliver mind-bending performance. We’re talking supercar levels of acceleration here, at least for 0-60 mph (96 km/h) and quarter-mile sprints. Take the Tesla Model 3 Performance, for instance.

Priced from $54,990 or $47,490 if you choose the no-cost Stealth Grey option and meet the requirements for the $7,500 federal tax credit (the only color that qualifies without adding the $8,000 FSD package, which unlocks eligibility for all colors and also nets you the tax credit), it might just be the best value in the EV sports sedan segment. That is, as long as you can stomach the depreciation that comes with it, especially compared to something like a BMW M3, which holds its value far better.

More: New Tesla Model 3 Long Range Gets Acceleration Boost Option In Some Markets

Not only does the Model 3 Performance outrun a BMW M3, but it also costs tens of thousands less than the German contender. For context, the base rear-wheel-drive M3 starts at $76,000, offering 473hp and a 0-60 time of 4.1 seconds. Step up to the M3 Competition xDrive, with its 523hp and a quicker 3.4-second sprint to 60 mph, and you’re looking at $85,300. And that’s without touching BMW’s extensive options list.

Meanwhile, the Model 3 Performance hits 60 mph in a blistering 2.8 seconds (albeit with a roll-out, so think around 3 seconds flat without) and rockets through the quarter-mile in about 11 seconds , all while offering just over 300 miles (488 km / EPA estimate) of range. Oh, and did we mention buyers are snapping up these Teslas for bargains on the second-hand market?

Second-Hand Steals

Photos Cars&Bids

For example, a Model 3 Performance in Ultra Red recently sold on Cars & Bids for just $46,250. It had only 2,200 miles on the odometer having been purchased new in June of 2024. To put that into perspective, that’s Lexus ES money for a car that delivers supercar acceleration. Apparently, 2,200 miles is all it takes for some buyers to lose interest in owning such a car.

As with all Model Performance variants, the car in question featured a panoramic glass roof, a premium interior, heated and ventilated front sport seats, and 20-inch wheels. The sale also included the Tesla Mobile Connector kit, compatible with both 120V outlets and NEMA 14-50 240V outlets for Level 2 charging.

The seller had the windows tinted and much of the body covered in SunTek paint protection film (PPF), which was applied to the front bumper, headlamps, hood, fenders, and mirror caps. Keep in mind that all of this came from Tesla with an MSRP of $58,380. Even at that price, it’s nothing short of a performance bargain.

A Windshield Or Another Tesla?

Interestingly, we’re about to see if this trend continues as another Model 3 Performance is up for sale again over on Cars & Bids. It has even fewer miles, just 800 so far, and with one day left into the auction, the highest bid stands at $38,250 at the time of writing with a day left (the auction ends on December 2). That’s for a car that, according to the listing, cost $56,380 new.

But why is the seller parting ways with it after so little time? As it turns out, replacing a windshield was enough to drive them into another Tesla. After all, who needs a windshield when you can just buy an entirely new car? Now that’s forward thinking.

“When I had to replace the windshield, Tesla had difficulties getting a replacement. They kept arriving damaged. Then, there was a lack of availability. It was dragging on. I was impatient. I just bought another Tesla while waiting for this one to be repaired,” the seller explained.

And he’s not alone either. A little digging reveals that windshield replacement for Teslas can be a frustrating and costly ordeal. When parts do finally arrive, the cost can hit nearly $1,500. Despite these headaches, the Model 3 Performance remains a killer deal in the sports sedan market. Whether new or lightly used, it’s hard to argue with this level of speed and value.

Photos Cars&Bids

While the growth in electric vehicle sales has slowed throughout much of 2024, this year is still shaping up to break records for both new and used EV sales across the United States. The shift toward electrification remains one of the most pivotal trends in the automotive world, and even with a few bumps along the way, the market is continuing to evolve.

According to recent data published by Cox Automotive, October saw 106,155 new EVs sold across the country, representing a 2.3% increase from September and a 6.7% rise year-to-date. This solid performance means that over 1 million new EVs have been sold in the USA through the first ten months of 2024.

Read: Global Electrified Sales Soared 31% In September, Driven By China’s Boom

Electric models now make up a significant 7.9% of the total new car market, a figure that highlights the segment’s growing share despite a broader industry slowdown.

Incentives And Leasing Drive the Growth

Two of the key reasons behind this growth are stronger incentives and more attractive leasing options. Cox Automotive reports that incentives on new EVs in October represented 13.7% of the average transaction price. This trend has undoubtedly helped tip the scales for buyers who might have otherwise been hesitant. Speaking of price, the average transaction price for a new EV last month was $56,902, marking a modest 1.2% decrease from the previous month, which suggests that price sensitivity may be easing as the market matures.

It’s clear that price isn’t the only factor driving new EV purchases. Leasing, too, has become a more favorable option for consumers looking to get into the EV game with less financial commitment upfront. This shift, combined with incentives, has helped sustain EV momentum even as broader car sales have slowed.

Used EV Market Grows Rapidly

The used EV market is experiencing a boom of its own. In October, 23,788 used EVs were sold—a 2.7% increase from September and a staggering 39.5% jump year-over-year. Used EVs now make up 1.6% of the overall used car market.

Meanwhile, the average listing price for a used EV in October fell to $37,912, marking a 6.4% decrease compared to the previous year. This decline suggests that as new EVs become more affordable, their used counterparts are following suit, providing a more accessible entry point for buyers. However, this also means current owners are facing higher depreciation.

Supply And Demand Shifts

As the market for both new and used EVs grows, supply dynamics are also shifting. Last month, the average supply of new EVs on dealer lots was 101 days, marking a 6.3% increase from the previous month. However, it’s a 9.3% drop from the same time last year, signaling that EVs are moving faster through dealerships. In comparison, used EVs had an average supply of 48 days, holding steady month-over-month and remaining just two days higher than used internal combustion engine (ICE) models, which averaged 46 days.

More: California To Reinstate EV Rebates If Trump Scraps Tax Credit, Just Not For Tesla

Despite the broader slowdown in 2024, the U.S. EV market remains robust. At the end of the third quarter, EV sales in the country had surged 11% year over year and reached an all-time high of 8.9% of the new car market. This strong rebound indicates that interest, at least for now, in the segment is far from fading, even as overall EV growth momentum wavered earlier in the year.

Uncertainty Ahead

However, it remains to be seen how the EV market will respond next year when the Trump administration takes office. The new leadership has promised to slash federal electric vehicle subsidies, a move that could disrupt the industry’s momentum, even if state-level rebates, like those in California, remain intact.

Automakers have already responded to the underperforming EV market by modifying their electrification plans, and finally the UK government appears to be ready to make some changes of its own. Britain’s business secretary told auto industry execs last night that he would consult them on changes to an EV mandate that automakers claim is totally unworkable.

As part of the country’s stepped push to phase out combustion engines by 2030, UK lawmakers introduced tough EV sales quotas, demanding that 22 percent of cars and 10 percent of all vans sold this year be fully electric. Automakers have achieved that feat in only one month during 2024 because not enough buyers want electric cars, a situation not helped by the UK’s decision to phase out EV grants in 2022.

Related: California To Reinstate EV Rebates If Trump Scraps Tax Credit, Just Not For Tesla

Failure to meet the targets will land companies with huge fines of £15,000 ($19,000) for every car sold beyond the allowed ratio, so some have opted to artificially restrict the availability of combustion vehicles and spend money subsidizing electric cars by offering discounts. And things are only going to get tougher according to the current plan, with the EV quota rising to 28 percent for cars in 2025 and 80 percent in 2030.

“The transport secretary and I have heard you loud and clear on the need for support to make this transition a success,” Bloomberg reports Business and Trade Secretary Jonathan Reynolds telling guests at a Society of Motor Manufacturers and Traders (SMMT) dinner on Tuesday.

“We’ll be consulting with you on changes to the ZEV mandate and inviting your views on options for a better way forward,” he added, but claimed the new British government was determined to stick to the 2030 combustion ban plan in which hybrids would live on for five additional years.

Stellantis this week announced it is shutting down its 119-year-old Vauxhall plant at Luton, north of London, having previously warned that the EV mandate and post-Brexit tariffs on UK-EU trade could lead to plant closures. And last week Ford said it was axing 4,000 jobs in Europe, including 800 in the UK.

“This industry is facing a greater set of challenges today than at any point in the last 50 years,” Reynolds conceded at the SMMT bash.

Tesla is under pressure to sell just over 500,000 vehicles in North America during the fourth quarter. To hit that target, the company is now offering a new incentive: three months of free Supercharging and Full Self-Driving (FSD). If Tesla falls short, it will break a long-running streak of meeting its lofty sales goals.

Shifting that many cars in a quarter isn’t easy, so Tesla is sweetening the deal. Buyers who take delivery before 2025 will get three free months of supercharging. That could make holiday road trips a little more appealing since drivers could essentially drive nationwide for free. 

More: Trump Reportedly Wants To Kill $7,500 EV Tax Credit, And Tesla Might Be Cool With It

In addition, the same buyers will get three free months of Full Self-Driving (Supervised). Shoppers who add FSD to their purchase of the car “will not get an alternative option.” Notably, the free FSD incentive cannot be deferred to a later date, even if the buyer completes their purchase and takes delivery before 2025.

It’s also worth noting that Tesla is already offering additional perks, including discounts on several models, the ability to transfer FSD from an existing vehicle to a new one, and 0% APR financing options.

Clearly, it’s pulling out all the stops that it can to reach its sales goal of 515,000 cars delivered in Q4. That’s where the streak comes into play. Tesla has increased deliveries every year for a decade. If it doesn’t sell 515,000 vehicles over the fourth quarter, it’ll miss that mark. 

All of this comes at a time when EV buyers might already have their own personal incentive to buy in. President-elect Donald Trump could reportedly ax the federal EV tax credit once he assumes his post in January. If he does, it might hurt Tesla, at least in the short term, but could absolutely crush other EV automakers. Thus, if you’re considering a Tesla, it might be time to get one while the discounts (and tax credits) are still available. 

Australia has joined the growing band of countries whose car buyers are finding themselves turned off to the idea of splashing out on an EV. Sales of electric cars in the country dropped by 25 percent in the three months to October, new data from the Australian Automobile Association reveals.

EV registrations fell from from 25,353 in Q2 to 18,990 units in Q3, taking battery vehicles’ share of the car market down from 8.1 percent to just 6.6 percent, the lowest it’s been in two years. The overall car market was down by a far less dramatic 7.6 percent in the same period.

Related: EV Sales Drop 10.8% In EU As Buyers Flock To Hybrids

Those EV refuseniks aren’t all jumping back into plain-old combustion cars – petrol sales didn’t fall as badly as EV registrations, but were still down 9.2 percent. Instead, they’re increasingly switching their focus from full electric to partially-electric. Sales of hybrids improved by 3.3 percent in Q3 from 46,727 to 48,282 units, but sales of plug-in-hybrids grew by a shocking 56 percent.

Modern PHEVs now offer such long electric ranges that many buyers find they can cover all of their commuting on battery power, and still have the security of a gas tank and combustion engine. But analysts think the main reason for the switch from EVs to hybrids is a financial one.

Rebates for fully electric cars have been removed everywhere in the country except Western Australia, creating a disincentive for buyers. But PHEVs are still exempt from fringe benefits tax until April 2025, potentially saving drivers thousands of dollars on a lease, the AAA explains.

“There have been significant quarterly fluctuations over the past seven quarters, but sales figures over that period confirm a clear trend of growth for hybrids, while battery electric vehicle market share appears to have peaked for now,” the AAA said.

“In the first half of 2023, battery electric vehicles outsold hybrids, but since then hybrids have outsold battery electric vehicles in five consecutive quarters.”

Source: Australian Automobile Association
Images: Brad Anderson for Carscoops

California has long been a hotbed for electric vehicles in the USA, and through the first nine months of this year, EVs accounted for 22.2% of all new vehicle sales across the state, according to the California New Car Dealers Association (CNCDA). While this represents only a modest increase from the EV share reported over the same period last year, it’s significantly more than the 9.1% share they had in 2021.

Between January and September, 1,320,708 new light vehicles (across all powertrains) were registered across the Golden State. This marks a 1.7% decline from the same period in 2021, with 362,881 cars (down 13.1%) and 957,827 light trucks (up 3.4%). By the end of the year, 1.75 million new vehicles are expected to be registered in California—a slight drop from the 1.77 million delivered last year and a considerable decline from pre-COVID years, when annual sales between 2015 and 2019 consistently hit or exceeded 1.89 million units.

Read: SEMA Sues California To Block Sweeping EV Mandate

What’s particularly interesting is the proportion of recent sales that have been for BEVs and hybrids. Sales of BEVs have jumped to 293,109 units, or a 22.2% share of the market year-to-date, slightly higher than the 21.5% share they had through all of 2023. The proportion of traditional hybrid vehicles sold this year has also risen, with 182,469 being registered to new homes. Hybrids now accounted for 13.8% of the total market.

In contrast, plug-in hybrid sales are lagging behind BEVs and standard hybrids. Only 45,244 units were sold in the first nine months of the year, holding steady at a 3.4% market share—the same as their share through all of 2023.

Gasoline-powered vehicles remain by far the most popular powertrain choice in California. Of all the new light vehicles sold in the state this year, 58.3% have gas engines. BEVs are the next most popular at 22.2%, followed by hybrids at 13.8%, plug-in hybrids at 3.4%, and diesel-powered ICE models at 2.3%. Altogether, the combined market share of BEVs, hybrids, PHEVs, and fuel cell vehicles has reached 39.4%.

The best selling EVs

When it comes to BEV dominance, Tesla remains the undisputed heavyweight champion in California. According to CNCDA data, the Tesla Model Y towers over the competition with a staggering 105,693 new registrations from January to September this year, making it the state’s best-selling BEV by a margin that’s almost embarrassing for its rivals. Its smaller sibling, the Tesla Model 3, comes in second with 34,219 units, while the Hyundai Ioniq 5—an up-and-comer in the EV space—takes a distant third with just 11,711 units sold. If the Model Y was a politician, it’d be running unopposed.

However, Tesla’s overall performance in California tells a more nuanced story. The company’s EV market share in the state has slipped by 8.5% compared to last year, marking a full 12 months of incremental declines, according to CNCDA. And while Tesla may still own the lion’s share of the BEV segment, the competition is sharpening its claws. Brands like Kia, BMW, and Hyundai are quietly but consistently chipping away, each posting year-to-date EV market share gains of 1.4%, 1.3%, and 1.3%, respectively.

Toyota the overall leader, Tesla second

Looking beyond BEVs to the broader automotive landscape in California, Toyota comfortably claims the top spot across all powertrains with 215,402 registrations so far this year, holding a commanding 16.3% market share. Tesla settles for second place with a 12.1% share, while Honda rounds out the top three, capturing 10.9% of the market.

Image Credit: Experian Automotive via CNCDA

The electric revolution has been slower than many automakers had expected, but momentum continues to build. That’s clear as General Motors has announced they have sold over 300,000 EVs in the United States since the Chevrolet Bolt was launched in late 2016.

While that particular model is no longer with us, GM’s electric vehicle lineup has exploded in the past few years as the company has launched the Cadillac Lyriq as well as a host of Chevys including the Blazer EV, Equinox EV, and Silverado EV. They’re joined by the GMC Sierra EV and Hummer EV lineup.

More: 2025 Chevy Blazer EV Gains Entry-Level FWD And High-Performance SS Models

GM no longer releases monthly sales numbers, but they delivered more than 32,000 EVs in the United States during the third quarter. That was a quarter-over-quarter increase of 46% and a 60% improvement from last year.

The Lyriq has been leading the way with year-to-date sales of 20,318 units. The luxury crossover was closely followed by the Blazer EV at 15,232 units, although both will likely be overtaken by the Equinox EV. The affordable electric crossover has been a hit with consumers and GM delivered 9,772 of them in the third quarter alone.

GM said this diverse lineup means they offer an electric vehicle for “almost every kind of driver.” There’s also an assortment of new models on the horizon as Cadillac has introduced the Optiq, Vistiq, Lyriq-V, and Escalade IQ. The Chevrolet Bolt is also slated to return next year as an affordable, mass-market option.

While GM became the number two seller of EVs in the third quarter with 32,095 sales, they’re well behind Tesla. However, Cox Automotive recently noted they’ve passed the Hyundai Motor Group (29,609) and are miles ahead of Ford (23,509).

Ford has high hopes for their next-generation of electric vehicles, but their current models continue to struggle. That’s clear today as the automaker reported an 8.3% drop in EV sales compared to October of last year.

The big loser was the F-150 Lightning, which saw a 49.8% drop in sales. Given the steep decline, it’s not surprising the company recently announced plans to temporarily halt production later this month until early next year.

More: Ford Halts F-150 Lightning Production Until 2025 Over Weak EV Demand

While buyers turned their backs on the electric pickup, they embraced the Mustang Mach-E as sales were up 21.3% to 3,313 units. That upward trend could continue in the future as Ford recently announced pricing for the 2025 model would start at $36,495 which is $3,500 less than its predecessor.

Meanwhile, E-Transit sales rocketed up 181.1%, but before popping the champagne, consider this: they only sold 1,088 units. It’s hard to celebrate when the numbers are still so small. A triple-digit percentage increase doesn’t mean much when the baseline is barely on the radar.

Ford US Sales

While Ford doesn’t breakdown hybrid sales in a similar fashion, the automaker reported a 38.5% jump in October. That outpaced sales of conventionally powered models, which were up 14.1% to 148,268 units.

It’s not immediately clear which eco-friendly models performed best, but Ford has previously credited strong truck sales. During their third quarter earnings bonanza, the automaker revealed they “commanded 77% of the U.S. hybrid truck market during the quarter, with hybrid truck sales up 42%.”

Putting hybrids aside, Bronco sales were up 104.7%, while the Bronco Sport saw a 13% improvement for the month. Mustang sales were off by 37% and they’re down 1% year-to-date.

Over at Lincoln, the company continues to see strong demand for the facelifted Aviator as well as the redesigned Nautilus. The luxury brand could also get a boost from the 2025 Navigator, but it won’t arrive until next spring.

Ford October 2024 US Sales

As the year winds to a close, Rivian is clearly feeling the pressure to move more units off the lot. One way it’s doing that is by offering buyers cold hard cash in the form of discounts. To qualify, buyers need to do a few things including own a gas-burning car. Here are all the details on what it’ll take to get $3,000 off a new Rivian R1S or R1T right now.

The most important requirement of this deal, something that Rivian is calling the “All-Electric Upgrade Off”, is that the buyer must have a gas-powered vehicle, though there’s no need to trade it in. Without the ability to show proof of ownership or lease of such a vehicle, the deal is off. Of course, it applies to all gas-powered vehicles including hybrids. Check that box, and you’re already halfway there. But Rivian has a few more stipulations in store.

More: Rivian’s Software Boss Says Dash Buttons Are A Bug, Not A Feature – Is He Right?

Next, the buyer has to select a new Rivian. It can’t be a pre-owned unit, a custom build, or a demo unit either. On top of that, the R1S or R1T in question can’t be a Dual Standard trim level. Sure, that diminishes the discount since the next level up costs substantially more, but a price break is still a price break. Buyers must put in their order between now and November 30 and they must agree to take delivery before December 31.

Notably, this isn’t a sliding scale discount or anything of that sort, so everyone who checks the above boxes gets the same $3,000 off. Canadian buyers get $4,100 CAD discount as long as they abide by those same rules. Basically, those who have been eyeing a new Rivian now have another reason to consider it.

That’s good news for fans since Rivian just updated both the R1S and R1T this year with some thoughtful touches. It’s also nice that Rivian doesn’t require buyers to trade in their old car. As we come to the close of the year, other automakers are likely to offer discounts to move products too, so if Rivian isn’t really your bag keep checking here.

We’ll keep you posted on the latest deals and incentives hitting the market.

Mazda remains on track to break the 400,000 sales milestone in the U.S. this year—a first for the brand—and is optimistic that this upward trend will carry into 2025. That said, the company has dialed back its expectations, acknowledging that sales might not climb as high as it once projected.

Last year, Mazda’s US sales surged 23 percent, hitting 363,354 units. Through September this year, it has already delivered 313,452 vehicles, 15 percent more than during the first nine months of 2023. Contributing to this rise in sales has been the launch of the related CX-70 and CX-90 SUV. Mazda has also increased production of the CX-50 it builds at its joint venture plant with Toyota in Alabama.

Read: 2025 Mazda CX-50 Hybrid Offers Toyota Tech And 38 MPG

Mazda North America’s CEO, Tom Donnelly, is bullish about hitting 450,000 U.S. sales next year. However, the brand has pulled back from an earlier, more ambitious forecast of 500,000 units, citing a “no shortage of headwinds” facing the industry. “The once in 100-year-plus transformation the industry is going through – all of us are dealing with that,” Donnelly told Auto News. “The core business is still going to be solid.”

Making Mazda’s sales growth particularly impressive is the fact that it doesn’t have a single EV in its line-up, having canceled the poorly-received MX-30 last year. The Japanese company has taken a more measured approach to electrification, and that’s helping it, particularly thanks to shifting consumer interest in hybrid vehicles.

The carmaker has been steadily expanding its lineup of hybrid and plug-in hybrid models since last year, with the CX-70 and CX-90 leading the charge as PHEVs. Next month, it’ll start deliveries of the CX-50 hybrid and expects it to account for roughly 40 percent of all CX-50 sales.

“We’re pleased with the impact our multisolution approach is having on our business,” Donnelly said. “On top of the growth that we’re already experiencing this year, we’re excited about the impact that the CX-50 hybrid will have for us.”

Review: The Mazda CX-50 Is A Gateway To The Great Outdoors

The CX-50 hybrid borrows its powertrain from Toyota. It consists of a 2.5-liter four-cylinder with three electric motors, an electronically-controlled CVT, and a small battery pack. It produces 219 hp and 163 lb-ft (221 Nm) of torque.

The Volkswagen Group has revealed their third quarter earnings and there’s no sugar coating things as it was a brutal three months. Compared to this time last year, sales dropped 8.3% while profits plunged 41.7%.

The company only made €2.86 ($3.11) billion in Q3, which was down from €4.89 ($5.31) billion last year. Given that drastic drop, it’s not surprising the automaker has been eyeing plant closures, cost cuts, and massive layoffs.

More: VW May Close Three German Plants, Lay Off Thousands

Through the first nine months of the year, Group sales were down 4.4% to 6,762,000 units. This, in turn, helped to push their operating result 20.5% lower to €12.91 ($14.03) billion. The latter figure comes even as sales revenue was up slightly.

Volkswagen blamed the lackluster performance on a variety of issues including higher fixed costs and restructuring expenses. The company also cited supply chain shortages, a challenging macroeconomic environment, and a “comprehensive renewal” of their luxury sport product portfolio.

CFO Arno Antlitz noted the Volkswagen Brand had an “operating margin of only two percent after nine months. This highlights the urgent need for significant cost reductions and efficiency gains.”

The Group’s EV push has also stalled as the automaker confirmed “industry-wide buyer reluctance” to electric vehicles. This is a huge problem for a company that has embraced EVs and Volkswagen said the sentiment helped push electric vehicle deliveries 4.7% lower than a year ago.

While it’s been a rough few months, there are signs of hope. Audi’s lineup has been extensively revamped with new models including the A5 and Q5 as well as the A6 and Q6 e-trons. Lamborghini has also introduced the Temerario, while Volkswagen has an assortment of new and updated products.

Despite these positive developments, things won’t get better overnight and deep cuts are coming. Previous reports have suggested three German plants could be on the chopping block as well as a facility in Brussels.

Volkswagen Group Q3 And Year-To-Date Results