Despite record sales this year, the US remains far behind Europe and China in the shift to electric vehicles (EVs).
More than 1.2 million battery-powered cars were sold in the US last year — five times the number from four years ago — and EVs reached a record 10% of total sales in August, according to S&P Global Mobility. But analysts warn the boom may be short-lived, driven largely by buyers rushing to claim a $7,500 federal tax credit that expired at the end of September.
With the subsidy gone, automakers like Ford and General Motors expect demand to cool sharply. Ford CEO Jim Farley said the EV market will remain “vibrant but smaller,” while GM executives predict a steep near-term decline.
Globally, the US trails badly: EVs make up nearly 30% of sales in the UK, 20% across Europe, and almost half of all new cars in China, according to the International Energy Agency. Experts say the trend underscores how America’s early momentum has slipped — even as the rest of the world races ahead toward an all-electric future.
