The Automakers That Saw The Biggest EV Sales Declines In Q1 2024

In the first few months of 2024, the buzz around electric vehicles in the U.S. seemed to simmer down a bit. Kelley Blue Book’s data shows that while people still bought nearly 270,000 new EVs, they made up a smaller chunk of overall car sales compared to last year. This slowdown was expected somewhat, especially since the growth rate of EVs had been crazy high in recent years.

Tesla, the big player in the EV world, didn’t have as great a quarter as usual. Their sales took a dip, affecting the whole market. But it’s not all bad news. Some other brands, especially the fancy ones like Cadillac and Mercedes, actually saw a spike in EV sales. And, prices for EVs in general, including popular Tesla models, dropped a bit, making them more affordable for people to access.

Plus, companies like Ford are stepping up their game in the EV department, showing that the future of electric cars still looks bright. So, while things might have slowed down a tad in the EV world, there’s still a lot of momentum pushing us toward a greener future on the roads. That said, here are eight manufacturers who did not enjoy the most profitable of Q1s this year.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Kelley Blue Book. The models below have been ranked based on their percentage of EV sales decline in the North American market.

7 Polestar

Down 5.6-percent

In Q1 2024, Polestar experienced a 5.6-percent decline in EV sales within the North American market – this at least is according to an estimate from Kelley Blue Book. This decrease is particularly notable as Polestar’s current lineup in the U.S. market consists solely of the Polestar 2. Despite the Polestar 2 being widely regarded as a fine electric car, potential buyers may be holding off on purchases in anticipation of the newer models, such as the Polestar 3 and Polestar 4, expected to launch later in the year. Polestar is set to release its official sales results for the opening quarter of 2024 on May 23.

Polestar EV Sales Data Q1 2024 vs. Q1 2023

This decline in sales comes amidst a broader trend of decreasing EV sales for various manufacturers, reflecting a period of ‘transition’ for Polestar. With the upcoming introduction of new models and significant corporate developments, including securing substantial external financing and changes in ownership structure, Polestar is hoping to position itself for future growth.

Q1 Sales Report By EV Model

6 Tesla

Down 13.3-percent

In the first quarter of 2024, Tesla sold 140,187 electric vehicles in the U.S., marking a 13.3-percent decrease compared to the 161,630 units sold in Q1 2023. Despite this decline, Tesla maintained a significant market share of 51.3-percent, demonstrating its continued dominance in the electric vehicle sector. The drop in sales is reflective of broader market trends and increased competition in the EV market, but Tesla’s substantial share indicates its strong brand presence and customer loyalty.

Tesla EV Sales Data Q1 2024 vs. Q1 2023

Breaking down the sales by model, the Tesla Model Y continued to lead with 96,729 units sold, representing a slight increase of 1.4-percent from Q1 2023 and accounting for 35.4-percent of Tesla’s total market share in Q1 2024. The Model 3 saw a significant decline of 43.9-percent, with 30,842 units sold compared to 54,954 in the previous year.

The Model S and Model X both experienced a 13.3-percent drop in sales, with 4,206 and 5,607 examples sold, respectively. The newly introduced Cybertruck added 2,803 copies, contributing one-percent to the market share. These figures highlight the varied performance across Tesla’s model lineup, with the Model Y standing out as the primary driver of sales amidst an overall downward trend.

Tesla Q1 Sales Report By EV Model

5 Subaru

Down 15.6-percent

Subaru sold 1,147 electric vehicles in the U.S., reflecting a 15.6-percent decrease compared to the 1,359 copies sold in Q1 2023. This reduction resulted in a Q1 market share of 0.4-percent. Despite the relatively small market share, the decline in Subaru’s EV sales is significant, particularly as the brand is attempting to establish a foothold in the growing electric vehicle market.

Subaru EV Sales Data Q1 2024 vs. Q1 2023

Analyzing Subaru’s sales by model, the Solterra was the only EV model sold by the brand in both Q1 2023 and Q1 2024. The decline in Solterra sales reflects Subaru’s struggle to maintain momentum in the EV market. With the Solterra accounting for the entirety of Subaru’s EV sales, the performance of this single model significantly impacts Subaru’s overall EV sales figures and market share.

Subaru Q1 Sales Report By EV Model

4 Volkswagen

Down 36.8-percent

In the first quarter of 2024, Volkswagen sold 6,167 electric vehicles in the U.S., marking a significant 36.8-percent decline from the 9,758 examples sold in Q1 2023. This drop brought Volkswagen’s Q1 market share down to 2.3-percent. The substantial decrease in sales highlights the challenges Volkswagen faces in maintaining its position in the competitive EV market. This decline places Volkswagen among the automakers with the largest sales decreases in Q1 2024, indicating a need for strategic adjustments to regain market share and boost sales.

Volkswagen EV Sales Data Q1 2024 vs. Q1 2023

Focusing on the model breakdown, the Volkswagen ID.4 was the sole contributor to the brand’s North American EV sales in both Q1 2023 and Q1 2024. As the ID.4 is central to Volkswagen’s electric vehicle lineup, the brand must address the factors contributing to this sales drop to improve its competitiveness in the growing EV market, which it intends to expand with the ID.7 and ID.Buzz in the near future.

Volkswagen Q1 Sales Report By EV Model

3 Chevrolet

Down 55.8-percent

Chevrolet experienced a steep decline in EV sales in the U.S., with total units sold dropping to 8,701 from 19,700 in Q1 2023, representing a 55.8-percent decrease. This significant reduction lowered Chevrolet’s market share to 3.2-percent in Q1 2024. The pronounced decline places Chevrolet among the automakers with the largest sales decreases for the quarter, highlighting the challenges it faces in maintaining its position in the competitive electric vehicle market.

Chevrolet EV Sales Data Q1 2024 vs. Q1 2023

A closer look at Chevrolet’s sales by model reveals that the Chevy Bolt EV/EUV, which was discontinued at the end of 2023, experienced a dramatic 64.3-percent decrease, with sales plummeting from 19,700 units in Q1 2023 to just 7,040 copies in Q1 2024.

Additionally, Chevrolet introduced the Blazer and Silverado models to their EV lineup, with the Blazer selling 600 copies and the Silverado 1,061 examples in Q1 2024. Despite these new models, the sharp decline in Bolt sales significantly impacted Chevrolet’s overall EV performance. To regain market share and improve sales, Chevrolet will need to address the gap left by the Bolt’s discontinuation while leveraging the introduction of new models.

Chevrolet Q1 Sales Report By EV Model

2 Volvo

Down 63.4-percent

Volvo saw a significant decline in its electric vehicle sales in the U.S., with total units sold dropping to 1,069 from 2,924 in Q1 2023, marking a 63.4-percent decrease. This sharp decline reduced Volvo’s market share to 1.9-percent in Q1 2024. Such a substantial reduction places Volvo among the automakers with the largest sales decreases for the quarter, indicating significant challenges in maintaining its foothold in the competitive EV market.

Volvo EV Sales Data Q1 2024 vs. Q1 2023

Analyzing Volvo’s sales by model reveals that the Volvo C40 Recharge experienced a drastic 75.7-percent decrease, with sales falling from 1,165 units in Q1 2023 to just 283 units in Q1 2024. The Volvo XC40 Recharge also saw a considerable decline, with sales dropping by 55.3-percent from 1,759 units in Q1 2023 to 786 units in Q1 2024.

Volvo Q1 Sales Report By EV Model

1 Mazda

Down 100-percent

Mazda experienced a complete drop in its electric vehicle (EV) sales in the U.S. for the first quarter of 2024, with sales falling from 15 units in Q1 2023 to zero units in Q1 2024. This 100-percent decline in sales reduced Mazda’s EV market share to 0.0-percent. To be fair, the discontinuation of the Mazda MX-30 at the end of 2023 was the sole factor behind this drop, as it was Mazda’s only EV offering in the market. This absence of EV sales positions in 2024 sees Mazda at the bottom of this list.

Mazda EV Sales Data Q1 2024 vs. Q1 2023

In Q1 2023, the MX-30 only sold 15 copies, accounting for Mazda’s entire EV sales in that period. The decision to discontinue the MX-30 without an immediate successor in the EV lineup underscores Mazda’s current gap in the EV market, emphasizing the need for strategic planning to re-enter the growing EV segment and regain market presence.

Mazda Q1 Sales Report By EV Model