Electric vehicles are gaining more traction in the US auto market, with new models like the Honda Prologue and Chevy Equinox EV driving sales growth. In March, EV registrations surged by 20%, outpacing the overall market as buyers rushed to take advantage of savings before Trump’s tariffs on imported vehicles take effect.
According to S&P Global Mobility, a total of 115,758 EVs were sold in March, accounting for 7.5% of the light vehicle market. Tesla remained the top-selling brand, with over 51,000 registrations. The Tesla Model 3 saw a 157% increase in registrations, while the Model Y experienced a 24% decline due to supply shortages.
New models from Honda and Chevy were the main contributors to the increase in EV sales. GM’s Chevy surpassed Ford as the second-best-selling EV brand, with registrations jumping by 274% to nearly 8,500. Cadillac also saw an 86% increase in registrations, thanks to its lineup of electric models.
In the first quarter of the year, GM sold 10,329 electric Chevy Equinox and 6,187 Blazer EV models, while Honda reported 9,561 Prologue sales and Acura sold 4,813 ZDX electric SUVs. Despite the growth in EV sales, challenges lie ahead with the potential end of federal EV incentives and Trump’s auto tariffs.
As popular EV models like the Chevy Equinox EV, Honda Prologue, and Ford Mustang Mach-E are built in Mexico, they could face higher prices in the near future. Ford has already announced plans to raise prices on imported vehicles, including the Mustang Mach-E.
In the meantime, Honda and Chevy are offering steep discounts on their EV models, with leasing options available for under $300 a month. This is a great opportunity for consumers to make the switch to electric vehicles and take advantage of the savings before prices potentially increase. If you’re interested in finding deals on top-selling EVs near you, be sure to check out the latest offers from Honda and Chevy.
