EV sales slowed in the United States in 2024, and President Donald Trump may further disrupt the industry by cutting incentives.
The auto industry saw a slowdown in growth of U.S. electric vehicle sales in 2024, largely due to the longtime leader — Tesla — losing ground. How things go in 2025 will depend a lot on what happens in Washington , where the incoming Trump administration has set its sights on repealing or revising incentives for EVs.
There are now 23 vehicles that qualify for the $7,500 credit, a decrease from 49 vehicles that had the full or partial credit at the end of 2024. The Tesla Model Y and Honda Prologue are among the leading models that still qualify. Rivian and Volkswagen are among the automakers that qualified before but don’t now. But this could change if the companies make changes to meet the standards. The tax credits are for people buying the vehicles.
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