Automaker’s latest U.S. sales are rolling in, and one thing is clear: urgency surrounding the federal EV credits (and their looming expiration) pushed some brands to record highs, while other sales reports showed just how uneven EV demand really is.
The leaders: GM, Ford, Hyundai, and Toyota each came out strong, though the reasons weren’t the same.
GM saw sales rise 8% YoY in Q3, including a record 66,501 EV deliveries.
Ford sold 545,522 in Q3, a jump of 8.2% vs last year as EVs hit a record 30,612 sales, and the Lightning and Mach-E posted their best quarter ever.
Hyundai posted its best Q3 ever at 239,069 (+13% YoY), with September EV sales soaring 153% YoY, led by the IONIQ 5.
Toyota sold 629,137 in Q3 (+15.9% YoY), with 44.9% electrified. Nearly all of that was hybrids.
The middle of the pack: Honda, Nissan, and Volkswagen held steady, but leaned more on their familiar nameplates to keep the numbers up.
Honda’s Q3 sales were flat vs 2024 at 105,097 sales, with YTD sales up 3.9%. Trucks and hybrids carried demand, while Acura posted a sales decline of 6.7% YoY.
Nissan’s U.S. sales were higher by 5.3% YoY in Q3 (223,377 units), thanks to continued buyer interest in SUVs, even with a 9.6% decline in INFINITI sales.
During the same period, VW sales fell 6% YoY to 87,705. SUVs helped (Tiguan +4% YoY, Atlas +2% YoY), and the ID.4 surged 176% YoY.
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The laggards: Volvo and Mitsubishi, by contrast, struggled to keep EV momentum going.
Volvo only reported U.S. sales for September, which were actually up 3%, but their electrified lineup was down notably (-21%) from last year.
Similarly, Mitsubishi delivered 19,647 units in Q3. The Outlander PHEV hit a record 2,403 sales (+5.4% YoY), but Mirage discontinuation dragged totals. SUVs softened the fall, but it’s still a thin lineup.
Worth noting: Tesla delivered 497,099 vehicles in Q3 (mostly Model 3 and Y). And Rivian sold 13,201 units. Tesla obviously remains dominant, though its growth is slowing. Rivian’s Q3 was strong, beating its own delivery targets by 246 vehicles, per Electrek.
What we’re watching: The EV sugar rush forecasted for 2025 is basically behind us. And now, OEMs are moving to plug the gap with their own programs and specials.
But that does one of two things…
Patches demand short-term, or raises the bigger question: Were these EVs overpriced from the start, padded to ride the credit wave? Either way, we’re about to find out how far, and for how long, OEMs are willing to go to keep EV demand alive.
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