Electric vehicle sales will make up nearly a fourth of all new vehicle purchases in the United States by the end of the decade, one analyst predicts. That’s despite recent moves by the Trump administration to stunt the EV industry’s growth.
Stephanie Valdez Streaty, director of industry insights for Cox Automotive, said Tuesday that she expects EVs to make up 24 percent of new domestic sales in 2030. The forecast is less optimistic than EPA expectations during the Biden administration, but it’s still a positive outlook given what’s happened to the U.S. market this year.
Over the last few months, President Donald Trump and congressional Republicans have swept away incentives and regulations intended to boost EV sales, including a $7,500 tax credit for EV purchases.
The end of that incentive on Oct. 1 prompted a record boom of EV sales in the third quarter, but it also led to dire warnings about the months and years ahead. For example, Ford CEO Jim Farley predicted in September that EV sales would fall by nearly half by the end of the year, which would be 5 or 6 percent of sales.
