US Electric Vehicle Sales Hit Record 1.3 Million Units In 2024, Despite Tesla Declines: Top 10 Bestselling Models

The U.S. automotive industry saw a record number of electric vehicles sold in 2024, with 1,301,411 units breaking last year’s record with a 7.3% year-over-year increase.

A record fourth quarter saw 365,824 units sold in the U.S., despite some weakness from sector leader Tesla Inc (NASDAQ:TSLA). Fourth-quarter EV sales were up 15.2% year-over-year in the U.S., as reported by Cox Automotive’s Kelley Blue Book.

Here’s a look at the top 10 bestselling EVs in the U.S. for 2024, their 2023 ranking and year-over-year change.

1. Tesla Model Y: 372,613 units, -6.6%, last year 1st

2. Tesla Model 3: 189,903 units, -17.4%, last year 2nd

3. Ford Mustang Mach-E: 51,745 units, +26.9%, last year 4th

4. Hyundai Ioniq 5: 44,400, +30.9%, last year 6th

5. Tesla Cybertruck: 38,965 units, new in year, last year N/A

6. Ford F-150 Lightning: 33,510 units, +38.7%, last year 8th

7. Honda Prologue: 33,017 units, new in year, last year N/A

8. Chevrolet Equinox: 28,874 units, new in year, last year N/A

9. Cadillac Lyriq: 28,402 units, +210.3%, last year not in top 10

10. Rivian R1S: 26,934 units, +23.4%, last year 7th

The 2024 list included five of last year’s top 10 with four new vehicles joining the list and one existing model seeing a large increase to soar into the top 10.

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Winners and Losers: Tesla continued to lead the way in unit sales with 633,762 units sold for the full year. The bad news is this figure was down 5.6% year-over-year.

Tesla led the way in EV market share hitting 48.7% for the full 2024 year and was at 44.4% in the fourth quarter. In 2023, Tesla’s EV market share was 55%, dropping from 65% in 2022.

While Tesla remains the market leader for EVs, its market share continues to decline as other companies join the sector and launch more models.

The Model Y and Model 3 made up 28.6% and 14.6% of U.S. EV sales respectively in 2024. The company once again had three vehicles in the top 10 after last year’s 1st, 2nd and 9th place (Model X) rankings. This year, the company ranked 1st, 2nd and saw its new Cybertruck rank 5th in its first full year.

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Honda Motor Company (NYSE:HMC) and General Motors Company (NYSE:GM) were listed as the big winners in the report, with a nearly 80,000 increase in EV sales between the two companies.