Tesla US Sales Sank 26% In January, But 5 Automakers Saw Electric Vehicle Growth

The expiration of the federal EV tax credit triggered a sharp drop in EV sales nationwide in January after automakers had set delivery records in Q3. January figures show broad weakness across the market with some isolated bright spots, suggesting uneven demand and near-term headwinds for EV revenue and production plans.

Analysis

The expiration of the federal EV tax credit triggered a sharp drop in EV sales nationwide in January after automakers had set delivery records in Q3. January figures show broad weakness across the market with some isolated bright spots, suggesting uneven demand and near-term headwinds for EV revenue and production plans.