Several EV models sold with over $10,000 in incentives in July, driving registrations up 18% from last year in the US. Kia’s new EV9 was among the most heavily discounted, selling with over $19,700 in incentives. Other models, like the Honda Prologue and Volkswagen ID.4, were also heavily discounted, which helped spark growth.
US EV registrations up in July, driven by heavy discounts
In the US, 118,273 new electric vehicles were registered in July 2024, up 18% year-over-year (YOY).
According to the latest S&P Global Mobility data (via Automotive News), EVs accounted for 8.5% of the US light vehicle market, up from 7.6% in June 2023.
The growth was largely due to skyrocketing incentives, including $19,703 for Kia’s new three-row EV9. According to Motor Intelligence, Honda’s Prologue ($7,035) and the Volkswagen ID.4 ($13,015) were among the most heavily discounted in July.
Meanwhile, Tesla broke its five-month slump, with registrations rising 1.2% compared to last year. The uptick comes as the Tesla Cybertruck (see our review) picks up momentum.
Tesla delivered 5,175 Cybertrucks in the US in July, nearly topping all other electric pickups combined with 5,546.
The EV leader still dominates the US market. In July, Tesla held a 48% share of EV registrations in the US.
(Source: Tesla)
Other brands contributed to the higher growth, with non-Tesla EV registrations surging 38% compared to last year.
Non-Tesla EV models are sparking growth
“This is really the second wave of competitor vehicles and these are very solid and very competitive products that are affecting Tesla’s position,” Libby added.
Several brands had triple-digit registration growth, with new models hitting the market. Nissan (108%), Cadillac (100%), Lexus (187%), Polestar (247%), GMC (1,132%), Jaguar (2,223%), and VinFast (1,010%) all achieved 100% or higher registrations than a year prior.
Brand
EV Registrations July 2024
YOY change
Tesla
57,134
+1.2%
Ford
9,504
+67%
Chevrolet
5,901
+25%
BMW
5,483
+27%
Hyundai
5,385
-14%
Kia
4,810
+62%
Rivian
4,545
+35%
Nissan
3,496
+108%
Honda
3,012
N/A
Mercedes
2,775
-3.2%
Cadillac
2,681
+100%
Volkswagen
2,080
-34%
Subaru
1,417
+83%
Lexus
1,386
+187%
Toyota
1,309
+95%
Audi
1,264
-37%
Polestar
1,162
+247%
GMC
1,146
+1,132%
Jaguar
700
+2,233%
Genesis
651
+8.1%
Lucid
562
+24%
Volvo
519
-57%
Acura
448
N/A
Porsche
345
-51%
Mini
194
-35%
VinFast
111
+1,010%
Fisker
96
+860%
Fiat
63
N/A
EV registrations by brand in the US in July 2024 (Source: S&P Global Mobility/ Automotive News)
According to the data, Hyundai Motor (including Kia and Genesis) came in second in the US with 10,846 registrations, topping Ford (9,504) and GM (9,767).
Hyundai will open its new Metaplant America next month, where the updated 2025 IONIQ 5 (including a rugged XRT trim) and new three-row IONIQ 9 will be built.
Hyundai’s new 2025 IONIQ 5 Limited with a Tesla NACS port (Source: Hyundai)
The discounts lowered EV prices to match or undercut gas-powered rivals. S&P Global Mobility analyst Tom Libby said, “The widespread use of EV incentives, both from the factory and the government, is boosting sales.”
According to online car research firm CarsDirect, Kia is offering up to $17,000 in incentives on the 2024 EV6.
2024 Kia EV9 GT-Line (Source: Kia)
A new Tesla Conquest Cash bonus offers up to $1,500 on the EV9 and $1,000 on the EV6. Honda also cut the Prologue’s lease price to as low as $259 per month with new incentives.
However, Libby noted, “If the incentives were pulled off, I think sales would drop tremendously.” The US election in November could impact incentives.
2024 Honda Prologue Elite (Source: Honda)
Through the first seven months of 2024, EV registrations rose 8.7% in the US compared to last year. Electric models accounted for 7.6% of the light-vehicle market through July.
Are you ready to take advantage of the savings? The discounts may not last long. You can use our links below to view deals on popular EVs in your area.
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On today’s exciting episode of Quick Charge, we don’t even mention “you know who,” focusing instead on EV news from Rivian, Lucid, Nissan, Ford, and what it takes to make a MAN in the heavy truck space. Check it out!
Sure, Nissan is pushing back production estimates on its yet-to-begin-production Nissan LEAF and Ford’s EV sales were down significantly in Q2, but there’s more to the story than the “Faux News” crowd would have you believe. Plus: some new electric success stories from Porsche and a disappointing (but still cool) dive into some new home backup battery tech.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
he 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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Battery electric cars sold today in Europe produce 73% less life-cycle greenhouse gas emissions than gas cars, even when factoring in production, according to new research from the International Council on Clean Transportation (ICCT). That’s a big improvement from 2021, when the gap was 59%.
Meanwhile, hybrids and plug-in hybrids haven’t made much progress. The study confirms what clean transportation advocates have been saying for years: If Europe wants to seriously slash emissions from its dirtiest mode of transport – ICE passenger cars, which pump out nearly 75% of the sector’s pollution – it needs to go all-in on battery EVs.
“Battery electric cars in Europe are getting cleaner faster than we expected and outperform all other technologies, including hybrids and plug-in hybrids,” said ICCT researcher Dr. Marta Negri. Credit the continent’s rapid shift to renewables and the higher energy efficiency of EVs.
The makeup of the EU’s power grid is changing fast. By 2025, renewables are expected to generate 56% of Europe’s electricity, up from 38% in 2020. And that’s just the beginning: the share could hit 86% by 2045. Since cars bought today could still be on the road two decades from now, the growing use of clean electricity will only boost EVs’ climate benefits over time.
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Gas-powered cars, on the other hand, will stay mostly tied to fossil fuels as the cost and availability of biofuels and e-fuels are still uncertain.
Hybrids and plug-in hybrids only cut lifetime emissions by 20% and 30%, respectively, compared to gas cars. That’s partly because plug-in hybrids tend to run on gas more than expected. So while hybrids aren’t useless, they’re just not good enough if we’re serious about climate goals.
Countering EV myths with hard data
There’s been a lot of noise lately about whether EVs are really that green. The ICCT study takes aim at the bad data and misleading claims floating around, like ignoring how the grid gets cleaner over time or using unrealistic gas mileage figures.
It’s true that manufacturing EVs creates more emissions upfront – about 40% more than making a gas car, mostly due to the battery. But EVs make up for it quickly: that extra emissions load is usually wiped out after about 17,000 km (10,563 miles) of driving, which most drivers hit in a year or two.
“We’ve recently seen auto industry leaders misrepresenting the emissions math on hybrids,” said Dr. Georg Bieker, senior researcher at the ICCT. “But life-cycle analysis is not a choose-your-own-adventure exercise.”
ICCT’s new analysis includes emissions from vehicle and battery production and recycling, fuel and electricity production, and fuel consumption and maintenance. It even adjusts for how the electricity mix will change in the coming years – a key detail when measuring plug-in hybrid performance.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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The EV2 may be Kia’s smallest electric vehicle, but it has a big presence on the road. Kia promises it won’t feel so small when you’re inside, thanks to clever storage and flexible seating. After a prototype was spotted testing in the Alps, we are getting our closest look at the Kia EV2 so far.
Kia EV2 spotted in the Alps offers our closest look yet
Kia first unveiled the Concept EV2 during its 2025 EV Day event (see our recap of the event) in April, a preview of its upcoming entry-level electric SUV.
Despite its small size, Kia claims it will “redefine urban electric mobility” with new innovative features and more. Kia has yet to say exactly how big it will be, but given it will sit below the EV3, it’s expected to be around 4,000 mm (157″) in length. The EV3 is 4,300 mm (169.3″) in length.
Looking at it from the side, it sits much higher than you’d expect, similar to Kia’s larger EV9. During an exclusive event at Milan Design Week in April, Kia gave a sneak peek of the interior.
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Kia said the interior is inspired by a “picnic in the city,” or in other words, a retreat from the busy city life. With a flat-floor design and flexible seating, you can quite literally have a picnic in the city.
Kia Concept EV2 (Source: Kia)
Although we’ve seen the EV2 out in public testing a few times, a new video provides the closest look at Kia’s upcoming electric SUV.
The video, courtesy of CarSpyMedia, shows an EV2 prototype testing in the Alps with European license plates. There’s also a “Testfahrt” sticker on the back, which translates to “Test Car” in German.
Kia EV2 entry-level EV caught testing in the Alps (Source: CarSpyMedia)
As the prototype drives by, you can get a good look at it from all angles. Like in past sightings, the front features stacked vertical headlights with Kia’s signature Star Map lighting. Even the rear lights appear to be identical to those of the concept.
The interior will feature Kia’s next-gen ccNC (connected car Navigation Cockpit) infotainment system. The setup includes dual 12.3″ instrument clusters and infotainment screens in a curved panoramic display. Depending on the model, it could also include an added 5.3″ climate control screen.
Last month, a crossover coupe-like model was spotted on a car carrier in Korea, hinting at a new variant. The new model featured a design similar to that of the Genesis GV60.
Kia’s CEO, Ho Sung Song, also recently told Autocar that a smaller, more affordable EV was in the works to sit below the EV2. Song said the new EV, priced under €25,000 ($30,000), was “one area we are studying and developing.”
With the EV4 and EV5 launching this year, followed by the EV2 in 2026, it could be closer toward the end of the decade before we see it hit the market. Next-gen EV6 and EV9 models are also due out around then.
The Kia EV2 is set to launch in Europe and other global regions in 2026. Unfortunately, it’s not expected to make the trip to the US.
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