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EV sales are up everywhere in the world — except North America

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The most valuable EV company in the world is based in the US, but Americans are buying fewer battery-powered vehicles.

EV sales in North America fell 1% this year compared to 2024, according to data from supply chain data firm Benchmark Mineral Intelligence. The dip comes as the US has faced a combination of policy changes, tariffs, and supply chain upheavals this year.

There were 1.7 million EVs sold in North America between January and November — far behind the 11.6 million sold in China and below the 3.8 million sold in Europe.

US automaker execs have been sounding the alarm bells on sales. In September, Ford CEO Jim Farley predicted that the EV market share in the US would nearly halve to around 5% in the near term.

Benchmark Mineral Intelligence cited the $7,500 EV tax credit ending in September as a reason for “subdued” sales in the US, along with the Trump administration relaxing rules for automakers designed to encourage the transition to EVs and hybrids.

Elon Musk’s Tesla has had a rocky year in almost all of its biggest markets, but it weathered the October drop-off better than its rivals, according to separate data from Cox Automotive. The world’s most valuable car company, however, is facing a race against time to avoid a second consecutive year of declining sales.

Other US EV makers have been hit by slowing demand, with GM and Rivian both announcing layoffs in recent months.

China’s overall EV sales were up 19%. While BYD, the country’s biggest EV maker, hit a rough patch in its home market amid rising competition from local startups, it set a record for EV exports in October.

Globally, EV sales were up 21% compared to last year, the Benchmark Mineral Intelligence data showed.

“Overall, EV demand remains resilient, supported by expanding model ranges and sustained policy incentives worldwide,” said Charles Lester, data manager for Rho Motion, the Benchmark subsidiary behind the report.




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Tesla offers new deals as it races to avoid another sales decline

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  • Tesla has introduced a wave of incentives to shift as many EVs as it can before the end of the year.
  • The incentives include free paint jobs and financing deals.
  • Elon Musk’s automaker is racing to avoid another decline in annual sales after a difficult year.

Tesla is piling on incentives for buyers as it aims to end a rocky year on a high.

Elon Musk’s automaker has introduced a smorgasbord of discounts and deals in the US, with Tesla facing a race against time to avoid a second consecutive year of declining sales.

Tesla is offering 0% APR financing for up to 72 months on select Model Y Standard purchases and is also advertising the option to lease a Model Y without a down payment on its website.

Buyers can also trade in a gas car to receive 2,000 miles of free supercharging, and Tesla is offering complimentary upgrades, including premium paint jobs, tow hitches, and 19-inch “Nova” wheels valued at up to $1,500 on select inventory vehicles.

Tesla often offers more incentives toward the end of the year. But this time, the company is racing to avoid another year of declining sales, following Tesla’s first-ever year-over-year fall in sales in 2024.

Repeating that pattern would provide more evidence that Tesla’s momentum is stalling after years of rapid growth.

In October last year, Musk predicted Tesla sales would grow 20-30% in 2025. Tesla needs to sell 555,000 EVs in the final three months of the year — more than it’s ever sold in a quarter — just to match its sales figures from last year.

That’s a tall order, with Tesla facing difficulties in all its main markets. The Cybertruck maker’s sales have cratered in Europe amid backlash over Musk’s politics. In China, Tesla has been squeezed by a wave of competition from local rivals.

Tesla also faces major headwinds in the US after the Trump administration scrapped the $7,500 tax credit for new EVs in September. Tesla’s US sales fell 35% between September and October after the tax credit disappeared, according to data from Cox Automotive.

It comes as Musk has increasingly shifted Tesla’s focus toward AI and robotics. The billionaire has described the steering wheel-less Cybercab and Tesla’s Optimus robot as the future of the company, with both set to enter production next year.




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