Electric vehicle sales could jump at the start of President Donald Trump’s second term, even if he rolls back federal policies that promote them.
Trump signed an executive order Monday that ordered federal agencies to end the “electric vehicle mandate,” a reference to the Biden administration’s tightened fuel economy and emissions standards. The order also targeted federal funding and tax breaks for EV buyers and makers.
Such steps could dampen the market for EVs in the long term. But first they’re likely to produce the same kind of short-term rush that caused a spike in electric vehicles in 2024, according to Cox Automotive.
“While policy changes in Washington might slow the growth, those changes likely won’t take effect for some time, and many buyers might jump in before changes are made,” the data company said. “In fact, in the year ahead, one out of every four vehicles sold will likely be electrified in some way — a hybrid, plug-in hybrid or pure EV.”