Since the start of the pandemic, 2025 promises to be the strongest year for the auto industry, according to analysts at Cox Automotive – every fourth passenger car sold in the United States in 2025 will be with an electric motor.
Image source: tesla.com
Analysts made these conclusions by studying the opinions of 2,557 car buyers and 526 car dealers in the United States; The experts set a goal to better understand the attitudes, preferences and views of consumers and sellers regarding electric transport. With the exception of Stellantis and Tesla, almost all automakers reported sales growth in 2024: General Motors cars became the best-selling cars, Honda and Mazda showed significant growth. The share of people who began to think about buying a used electric car has sharply increased: if in 2021 62% of respondents admitted this, now this is already 77%.
Image source: coxautoinc.com
In 2024, electric vehicles accounted for 7.5% of the market, and in 2025 this figure is projected to rise to 10%. Sales of ICE vehicles will drop to a record low 75% over the same time period, with 15% of the market going to pure electric vehicles and plug-in hybrids. With 15 new electric vehicle models expected to launch in 2025, most buyers will try to buy them before new President Donald Trump’s administration cuts their tax credit, which currently stands at $7,500.
Image source: coxautoinc.com
So far, an underdeveloped charging infrastructure is a major constraint on the development of the electric vehicle market, but 86% of dealers have committed to continue investing in this area by 2025, so the problem promises to decline. Finally, electric cars will become easier to buy: it is expected that the availability of credit will increase, and if the economy stabilizes, the Fed will lower its key rate, and they will also become cheaper.