Tesla US Sales Sank 26% In January, But 5 Automakers Saw Electric Vehicle Growth

Automotive companies set records for electric vehicle (EV) deliveries in the third quarter, but the expiration of the Federal EV tax credit sent sales figures plummeting across the country. Here are the latest figures from January, which show both weakness and bright spots. U.S. EV Sales Fall Hard in January EV registrations were down 41% year-over-year in the month of January, continuing a trend of sales declines since the expiration of the federal tax credit at the end of September 2025. EV registrations have posted four straight months of year-over-year declines since the tax credit expiration, according to InsideEVs. In January, the U.S. EV market claimed 5.1% of the share, down from 8.3% in January 2025, according to data from S&P Global Mobility. During the month, the country registered 59,802 EVs. Winners and Losers While Tesla Inc (NASDAQ:TSLA) doesn't break out regional sales, data shows the company had 32,123 sales in January based on registrations in the country. This represents a year-over-year decline of 26%. Tesla wasn't the only automotive company to see declines in the U.S. for January; due to its size, it gets the headlines and will be labeled the big loser for the month. Several automakers saw sales increases in January, which could be significant given the expiration of the federal EV tax credit. The sales increases could be due to low volume or new launches in some cases. Here are the companies that saw gains in January: Cadillac, unit of General Motors Company (NYSE:GM): +8.1% year-over-year Toyota Motors (NYSE:TM): +25% year-over-year Lucid Group (NASDAQ:LCID): +97% year-over-year Maserati, unit of Stellantis NV (NYSE:STLA): +140% year-over-year Lexus, unit of Toyota: +166% year-over-year The report notes that Lexus sold 810 total electric vehicles in the month of January for the U.S. market, while Maserati sold 12 vehicles. Due to low volume, the percentage gains were substantial on a year-over-year basis. The coming months could look different with the upcoming R2 from Rivian Automotive (NASDAQ:RIVN), a vehicle that comes with high expectations. Lucid also has more affordable mid-size vehicles coming that could help with continued gains. Image via Shutterstock