Electric Vehicle (EV) Statistics [2025]: Trends in Sales, Savings, and More

Electric vehicles have a long history that dates back to the 1800s, when they were, believe it or not, even more popular than gasoline-powered cars. Today, electric vehicle (EV) adoption is accelerating after decades of decline. Americans purchased over 1.5 million EVs in 2024, accounting for approximately 10% of all new light-duty vehicles sold, according to the International Council on Clean Transportation.

Top-selling models from Tesla have dominated the market, but in recent years, American drivers have gained more options. In 2024, 24 new EV models were launched, representing a 15% increase from the previous year.

In this report, the research team at FinanceBuzz compiled data on EV adoption, sales trends, charging infrastructure, costs, savings, and more. Our data are sourced from the International Energy Agency, the U.S. Department of Energy, the U.S. Department of Transportation, AAA, and the U.S. Energy Information Administration, among others.

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Key insights on electric vehicles (EVs)

Americans purchased more than 1.5 million EVs in 2024. Sales growth slowed to 10% year-over-year, compared to 40% growth the year prior.
Leasing is on the rise among EV buyers. In the second quarter of 2024, nearly half of new EVs were leased, representing a 28 percentage point increase since 2021.
California leads the nation in EV adoption, with more than 1.2 million registrations in 2023, equivalent to roughly 323 EVs per 10,000 residents. Washington (195 per 10,000 residents), Hawaii (178), and Colorado (153) follow.
Public charging infrastructure continues to expand. The U.S. now has more than 64,000 public charging stations and over 168,000 charging ports, up from fewer than 1,000 stations in 2010.
North Dakota has the highest ratio of chargers to EVs, with 99 public chargers per 1,000 registered EVs — California and New York rank lower despite having the largest number of public stations overall.
EV drivers save significantly on fuel costs. The average EV owner spends about $654 per year on electricity, compared to $1,865 for a gas-powered vehicle, which equates to annual savings of $1,211.

What are electric vehicles, and how do they work?

Electric vehicles (EVs) are vehicles that rely on battery power instead of gasoline. An electric motor powers the car with energy supplied through charging rather than refueling.

However, there are different types of EVs. For instance, battery electric vehicles (BEVs) operate fully on electricity, while plug-in hybrids (PHEVs) utilize a rechargeable battery in combination with a gas engine as a backup. Hybrids (HEVs) use a gas engine and an electric motor, but they cannot be plugged in; instead, they rely on driving to recharge the battery.

Electric vehicles offer an alternative driving experience for American drivers, with benefits and trade-offs to consider.

Pros and cons of electric vehicles

Pros

No tailpipe emissions
Lower fuel costs
Lower maintenance costs
Can be charged from comfort of home
Smoother and quieter driving experience
Access to federal and state incentives and tax credits
Reduced carbon footprint

Cons

Higher upfront costs
Public charging infrastructure can be limited depending on location
Charging takes longer than gas refueling
Limited driving range (for some models)
Higher insurance premiums

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Electric vehicles (EVs) sales trends over time

Electric vehicle sales in the U.S. surpassed 1.5 million in 2024, marking continued growth. However, the pace slowed compared to the previous year, with a 10% increase versus 40% in 2023. The largest boom occurred in 2021, when U.S. EV sales skyrocketed by 115%, rising to 633,100 from 295,200 in 2020.

U.S. electric car sales (2010 - 2024) and 2030 projection

Changes to the qualification requirements for leased electric cars for the federal tax credit helped drive leasing demand in 2024. The second quarter of the year saw nearly half of all-electric vehicles leased rather than purchased through traditional financing or cash. Since 2021, traditional financing has declined by 21 percentage points, while leasing has increased by 28 percentage points. A TransUnion report indicates that while auto leasing has increased overall for all vehicles, the largest spike has been observed in the EV market.

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How Americans are choosing to finance their electric car purchases

Electric vehicles (EVs) adoption by state

In 2023, California dominated the U.S. EV market with 323 registrations per 10,000 residents. In terms of volume, more than 1.2 million EV registrations happened in the state — more than any other. Washington, Hawaii, and Colorado follow, with 195, 178, and 153 per 10,000 residents, respectively. Florida, which had the second-highest overall number of EV registrations (254,878), ranks No. 13 with 113 registrations per 10,000 residents.

Registered EVs per 10,000 residents in each state

Charging infrastructure and accessibility

Access to charging infrastructure has grown consistently over the years. Before 2011, there were fewer than 1,000 public EV charging stations. By 2023, this figure had grown to over 64,000. The number of charging ports available at stations has grown even faster, reaching 168,388 in 2023. On average, there are 2.6 charging ports per public station available to EV drivers.

Growth in public EV charging stations over time

Access to public EV charging stations in each state

While nearly 9 in 10 EV drivers charge at home, more than 60% still rely on public chargers each week. Regardless of adoption rates in a state, some drivers need or prefer access to public charging infrastructure. California has the highest number of stations (17,122), followed by New York (4,814), with nearly four times fewer stations. Massachusetts ranks third, offering 3,738 stations, and is the only state in the top five that is not among the five most populous states.

5 states with the most public EV charging stations

State	No. of Public Charging Stations	EV Charging stations per 1,000 Registered EVs
California	17,122	13.6
New York	4,814	36.7
Massachusetts	3,738	50.7
Florida	3,715	14.6
Texas	3,709	16.1
Source: U.S. Department of Energy Alternative Fuels Center

When comparing EV drivers to charging station access, larger states show wider gaps than smaller states. For instance, North Dakota leads with 99 public chargers for every 1,000 registered EVs. Wyoming follows with 87, and Maine with 72. California and New York, which have the largest volume of stations overall, offer the third- and 33rd-lowest rates per 1,000 registered EVs.

Public EV charging stations per 1,000 registered EVs in each state

Public EV charging stations by city

While most top cities for public EV charging are also the most populous, a few standouts go against the norm by offering more public EV charging stations than their larger counterparts. For example, Orlando, Florida, provides access to 322 public EV charging stations, outpacing larger cities like Miami, Jacksonville, and Tallahassee. In Pennsylvania, Pittsburgh edges out Philadelphia with its 314 stations.

However, no city comes close to Los Angeles with its 1,609 stations. Atlanta, Georgia, follows with 688, and Seattle, Washington, ranks third with 660.

City With the Most Public EV Charging Stations in Each State
State	City	No. of Charging Stations
Alaska	Juneau	15
Alabama	Birmingham	53
Arkansas	Little Rock	65
Arizona	Phoenix	311
California	Los Angeles	1,609
Colorado	Denver	385
Connecticut	New Haven	99
Delaware	Wilmington	54
Florida	Orlando	322
Georgia	Atlanta	688
Hawaii	Honolulu	134
Iowa	Iowa City	38
Idaho	Boise	60
Illinois	Chicago	299
Indiana	Indianapolis	76
Kansas	Overland Park	152
Kentucky	Louisville	89
Louisiana	New Orleans	50
Massachusetts	Boston	624
Maryland	Baltimore	246
Maine	Portland	45
Michigan	Detroit	154
Minnesota	Minneapolis	145
Missouri	Kansas City	454
Mississippi	Tupelo	13
Montana	Missoula	19
North Carolina	Charlotte	256
North Dakota	Fargo	18
Nebraska	Omaha	78
New Hampshire	Manchester	25
New Jersey	Jersey City	48
New Mexico	Albuquerque	145
Nevada	Las Vegas	312
New York	New York	437
Ohio	Columbus	315
Oklahoma	Oklahoma City	64
Oregon	Portland	235
Pennsylvania	Pittsburgh	314
Rhode Island	Providence	95
South Carolina	Greenville	69
South Dakota	Sioux Falls	25
Tennessee	Nashville	302
Texas	Austin	656
Utah	Salt Lake City	188
Virginia	Arlington	231
Vermont	Burlington	76
Washington	Seattle	660
Wisconsin	Madison	107
West Virginia	Morgantown	11
Wyoming	Jackson	17
Source: U.S. Department of Energy Alternative Fuels Center

Electric vehicle (EV) fuel costs and savings

When comparing fuel economy and energy costs, electric vehicles show significant savings over gas-powered cars when driven the same number of miles annually. The comparison below uses averages for miles driven, fuel economy, and fuel or energy costs. We found that the average American with a gas vehicle would spend $1,865 annually on fuel, while an electric vehicle owner would pay 65% less on energy.

Fuel costs and savings by vehicle type

Electric vehicles (EVs) may have higher car insurance rates

Though EVs don't have as many moving parts as gasoline-powered cars, insuring an EV can be more expensive than a regular, gas-powered car for two main reasons:

Parts are harder to come by, so they may be more expensive to repair and replace.
EVs tend to be more expensive than gas-powered cars.

According to Progressive, a new EV battery ranges between $4,000 and $20,000, depending on the make and model of the EV, compared to $100-$200 in a gas-powered car. The scarcity of batteries and parts is also reflected in the number of technicians who can work on the EVs, driving costs up more for qualified repair shops.

That said, finding cheap car insurance for an EV isn't impossible. Buying used EVs may lower the car's value, which will likely drive down insurance costs. It's also important to note that EVs also tend to have fewer moving parts and require less preventative maintenance than gas-powered cars, which can save owners up to 50% on repairs over other vehicles.

FAQs

What electric cars qualify for a tax credit?

Eligibility for the electric vehicle tax credit depends on various factors, including where the car is manufactured, the sourcing of battery components, and price limits. The most up-to-date qualifying models can be found on the IRS or U.S. Department of Energy websites.

What electric cars are made in the USA?

No mass-market electric cars are 100% made in the U.S., as several materials and components are sourced globally. However, some car models are assembled in the U.S. and have a higher percentage of domestic parts than others. For example, the Tesla Model 3 and Model Y have the highest percentage (85%) of domestic content.

Which electric cars have self-driving?

No electric cars currently have full self-driving capabilities. However, many models offer advanced driver assistance features such as lane centering, adaptive cruise control, and partial automation.

Will electric cars get cheaper?

Electric cars are gradually becoming more affordable. Decreasing battery costs, increased competition and federal and state incentives are helping to lower prices for consumers.

Are electric cars better for the environment?

EVs produce no tailpipe emissions and generally have a lower carbon footprint than gas-powered vehicles. However, battery production carries some environmental and ethical concerns.

Are electric cars more expensive to insure?

Electric cars can be more expensive to insure due to higher repair costs and parts availability. Insurance prices vary by model and location.

Can electric cars be charged at home?

Yes. As of 2024, about 86% of EV owners charge their vehicles at home.

How long do EV batteries last?

Predictive modeling suggests that today's EV batteries may last between 8 to 15 years, depending on the climate and usage. Many manufacturers offer 8-year or 100,000-mile warranties on their EV batteries.

How much does it cost to charge an EV at home?

Charging costs vary depending on electricity rates and vehicle efficiency. For instance, if an EV drove an annual average of 13,796 miles with an average residential electricity price of 17 cents per kWh, the cost per mile would be $623 annually or about $0.05 per mile.

What are the downsides of owning an EV?

EVs typically have higher upfront costs than gas-powered vehicles, and may also have higher insurance premiums. Charging an EV takes longer than refueling at a gas station, and public charging infrastructure can vary depending on your location. Some models also have limited driving ranges.

Can you take a road trip in an EV?

Yes. Many EVs today have a range of 141 miles to 512 miles. Additionally, public charging station networks continue to grow consistently. However, long trips may require additional planning and longer stops for charging.

Ask the experts

Electric vehicles are set to reshape the auto industry, including how we drive and fuel up our vehicles. We spoke with industry experts to get their take on the potential impact EVs could have for car owners in the coming years. Here's what they had to say.