![\"EV](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/10\/108207564-17595045341759504532-41930819946-1080pnbcnews.jpg\")
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DETROIT \u2013 Tesla<\/a> and General Motors<\/a> are leading the U.S. automotive industry this year in record domestic sales of all-electric vehicles, as consumers hurried to buy EVs before up to $7,500 in federal incentives<\/a> for each purchase ended in September.<\/p>\n New data provided to CNBC from Motor Intelligence shows U.S. sales of EVs, excluding hybrids, topped 1 million units through the first nine months of the year and set a new quarterly record of more than 438,000 units sold during the third quarter \u2014 achieving market share of 10.5% for the period.<\/p>\n That record market share is up from 7.4% during the second quarter and 7.6% during the first three months of the year, according to Motor Intelligence. Sales of all-electric models were estimated to be 1.3 million<\/a> in 2024, with a roughly 8% market share.<\/p>\n U.S. EV industry leader Tesla, which does not report sales by region<\/a>, is estimated to have retained its leadership position with a 43.1% market share through September, according to the data. That’s down from 49% to end last year, as competitors continue to release new EVs.<\/p>\n Stock Chart IconStock chart icon Auto stocks<\/p>\n GM, which offers the most EV models<\/a> in the U.S., has made significant gains this year. Motor Intelligence reported that the Detroit automaker went from an 8.7% market share to begin this year to 13.8% through the third quarter \u2013 topping Hyundai Motor<\/a>, including Kia, at 8.6% through September.<\/p>\n The sales data comes two days after GM estimated it leads the U.S. industry<\/a> in EV market share growth so far in 2025, with the lowest incentives of any major automaker. It sold 144,668 EVs through September, which still only represented 6.8% of its total U.S. sales. \u00a0<\/p>\n “No one is in a stronger position for a changing U.S. market than GM,” Duncan Aldred, GM president of North America, said in a release<\/a>. “We have the best lineup of ICE [internal combustion engine] and EV vehicles we’ve ever had. Our brands have grown market share with consistently strong pricing, and low incentives and inventory.”<\/p>\n Following Tesla, GM and Hyundai, Motor Intelligence data shows Ford Motor’s<\/a> EV market share was 6.6% through the third quarter, followed by Volkswagen<\/a> at 5.4%; Honda Motor<\/a> at 4.6%; and BMW at 3.6%.<\/p>\n A Tesla Cybertruck and GMC Sierra Denali EV First Edition next to one another.<\/p>\n Michael Wayland | CNBC<\/p>\n Despite sales increasing each quarter of this year, EV startups Rivian Automotive<\/a> and Lucid Group<\/a> continue to have a relatively small EV market share. Lucid remains under 1%, while Rivian was at 3% through September.<\/p>\n Major automakers reported third-quarter results<\/a> this week that were led by EV sales. The rush to buy electric cars came ahead of the federal incentives for those vehicles ending as a result of the Trump administration’s “One Big Beautiful Bill Act.”<\/p>\n Industry analysts and executives believe the incentives ending will create a boom-and-bust cycle for the sale of EVs in the U.S.<\/p>\n Ford CEO Jim Farley<\/a> on Tuesday said<\/a> he “wouldn’t be surprised” if sales of EVs fell from an industry market share of around 10% to 12% in September to 5% after the incentive program ends.<\/p>\n The end of EV credits for the U.S. comes as the country continues to trail other major automakers in the adoption of zero-emission vehicles. The International Energy Agency<\/a>\u00a0reports China continued to lead EV adoption globally last year, with sales of 6.4 million all-electric vehicles, not counting hybrids, followed by Europe at 2.2 million units.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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