The Acura ZDX, which shares a platform with the Cadillac Lyriq, posted 1,616 U.S. registrations in February, S&P Global Mobility said.
General Motors and American Honda led the industry’s 14 percent gain in new U.S. electric vehicle registrations in February compared with a year earlier as Tesla and Rivian stumbled, according to S&P Global Mobility.
Registrations of fresh models, including the Chevrolet Equinox EV and Honda Prologue, grew as incentives pushed down EV prices for a more level playing field against gasoline counterparts.
“What we’re seeing now is a result of GM’s decisions years ago to go full bore on EVs,” said Tom Libby, an analyst at S&P Global Mobility. For Honda and Acura, “you have loyalists who’ve been waiting for an EV. Now it comes, and boom.”
Total February registrations of new battery-electric models rose to 89,728 vehicles from 78,367 in the same month last year, S&P Global Mobility said. EV share of the U.S. light-vehicle market grew to 7.2 percent from 6.1 percent a year earlier.
The data does not include hybrid models.
Top models that pushed February EV growth
General Motors' and American Honda’s fresh electric vehicle models helped fuel a 14% rise in EV registrations in February.
Tesla
35,159
Ford
7,815
Chevrolet
5,973
BMW
4,366
Hyundai
3,739
Kia
3,202
Honda
3,145
Volkswagen
2,691
Cadillac
2,663
Rivian
2,501
Mercedes-Benz
2,246
Nissan
2,079
Audi
1,960
Toyota
1,724
Acura
1,616
GMC
1,557
Jeep
1,205
Porsche
1,089
Subaru
990
Volvo
857
Lucid
604
Dodge
516
Lexus
485
Genesis
476
Polestar
307
VinFast
215
Mini
184
Fiat
111
BrightDrop
102
Fisker
86
Rolls-Royce
31
Jaguar
26
Maserati
4
Ram
4
Source: S&P Global Mobility light-vehicle data
“The EV growth has slowed down, but there’s still growth,” Libby said. He noted that electric vehicle share of the light-vehicle market was 8.1 percent in calendar year 2024 and 7.6 percent in 2023.
Registration data serves as a proxy because Tesla doesn’t break out U.S. sales and some automakers don’t detail all of their EV deliveries. Registration figures lag official sales data.
Among top-10 EV brands by volume, Chevrolet grew the fastest.
Chevy’s February registrations rose 139 percent to 5,973 vehicles. Industrywide, the Equinox EV was the No. 4 electric model by volume, with 3,323 registrations. Chevy’s Blazer EV and Silverado EV also posted sharp gains.
Honda, which was not selling EVs a year ago, logged 3,145 registrations for the Prologue, which was the No. 5 EV by volume in February, S&P Global Mobility said.
Acura posted 1,616 registrations for its ZDX crossover, which wasn’t on sale in February last year.
GM, Honda EVs built on GM platforms propel February EV registrations
General Motors and American Honda brands together added about 10,000 registrations in February from a year earlier, boosting an otherwise lackluster EV market, Libby said.
Honda builds the Prologue and ZDX on GM platforms alongside the Equinox EV and Cadillac Lyriq. Cadillac’s EV registrations grew 35 percent in February, bolstered by the new Optiq crossover and Escalade IQ.
Automaker incentives helped boost EV sales, Libby said. “They have to keep the incentives on. Any brand that doesn’t is going to fall behind,” he said. The federal government also offers EV tax credits of up to $7,500 for qualified vehicles.
The Honda Prologue’s average incentive reached $11,836, and the Acura ZDX’s average incentive was even higher at $17,544, according to a Motor Intelligence estimate. The data provider didn’t break out the Equinox EV’s incentives from the gasoline model.
Jeep, another EV newcomer, posted 1,205 February registrations for its Wagoneer S crossover, S&P Global Mobility said. Dodge, also a Stellantis brand, had 516 registrations for its new electric Charger sedan.
Tesla EV registrations, loyalty slip in February
Tesla remained the EV leader by volume, but February registrations fell 4.2 percent to 35,159 vehicles. Tesla’s EV share dropped to 39.2 percent, a decline of 7.6 percentage points from February last year, the data showed.
Tesla also suffered a significant decline in its brand loyalty compared with a year ago, Libby said, without providing numbers. Tesla had previously led brand loyalty rankings for several years.
Separately, the California New Car Dealers Association said Tesla sales fell 15 percent in the first quarter compared with the same period last year. Non-Tesla EV volume increased 35 percent in the state, the group said.
“An aging product lineup and backlash against [CEO] Elon Musk’s political initiatives are likely key factors for the decline in Tesla BEV market share,” the association said.
Tesla’s California EV share fell to 43.9 percent in the first quarter from 55.5 percent a year earlier, the group said.
Musk is a key adviser to President Donald Trump, leading efforts to cut government programs.
In the California car market for all fuel types, Tesla fell to the No. 3 spot in the first quarter from No. 2 a year earlier, the association said. Honda was No. 2 in the first quarter behind longtime leader Toyota.
Rivian EV registrations fall 23 percent
Nationally, Rivian’s February EV registrations fell 23 percent to 2,501 vehicles, S&P Global Mobility said. The consumer R1T pickup and R1S crossover slid sharply while its commercial vans grew 33 percent.
Rivian, which hasn’t launched a new model since 2021, is planning to launch the smaller R2 crossover next year.
One reason for the cooldown in EV adoption over the last year is increased consumer interest in gasoline-electric hybrids, Libby said.
“It makes sense that hybrids are hurting electrics,” Libby said. Hybrids offer partial electrification and similar pricing to gasoline vehicles without the range anxiety and charging hassle of full EVs, he said.
Then again, consumers might dial down car buying altogether in the near term if automotive tariffs and economic uncertainty persist, Libby added.
“In general when there’s a lot of turmoil, that creates uncertainty, and it causes consumers to wait,” he said.
