Chevrolet overtakes Tesla as America’s fastest-growing EV brand

In the United States, a significant shift has occurred within the electric vehicle market. As of late 2024, Chevrolet has rapidly emerged as a formidable competitor to Tesla, especially following the launch of new electric vehicles like the Equinox, Blazer, and Silverado. General Motors reported a remarkable 50% increase in sales over the last quarter, achieving a market share of almost 12.5% by the end of 2024. This growth enabled GM to surpass Ford in EV sales, positioning it as the second-largest seller of electric vehicles in the country, trailing only Tesla. The rise of the Chevy Equinox EV, with an impressive 85% increase in sales, underpinned this growth and solidified its standing as America’s ninth best-selling EV by the end of 2024. The introductory price of the Equinox at $33,600, along with its range of over 300 miles, has made it an attractive option for consumers. Furthermore, the availability of a $7,500 federal tax rebate for both the Equinox and Blazer models makes these vehicles even more appealing. Despite Tesla’s previous dominance, the company has seen its market share decline from 56% last year to approximately 50% as of 2025, indicating increased competition in the EV sector. This evolving landscape is characterized by a growing interest in electric vehicles, with surveys suggesting that a notable 23% of consumers are likely to consider electric cars for their next purchase. Overall, the increasing presence of Chevrolet in the electric vehicle market signifies a pivotal moment as traditional automotive manufacturers adapt to the changing environment shaped by consumer demand and advancements in electric mobility.