E-Vision Intelligence Report
March 2025
Key Findings
- Overall EV Market Share Rising: Overall electric vehicle (EV) market share as a percentage of total vehicle sales volume was 9.3% in March 2025, up 0.9 percentage points from 8.4% in March 2024.
- New EV Purchase Consideration Flat: Overall, 23% of shoppers actively in the market for a new vehicle say they are “very likely” to consider buying or leasing an EV in the next 12 months. That number is flat with the February total and up half a percentage point from 22.5% in March 2024.
- Tesla Remains Most Considered Brand, but it is Losing Market Share: Among active new vehicle shoppers who are “very likely” or “somewhat likely” to consider an EV, Tesla is the top-ranked brand, followed by Chevrolet, Ford and Toyota. Tesla’s total share of the EV market has declined steadily during the past two years, reaching 47% in December 2024, and its brand consideration has declined to 18.2% in March 2025 from 20.5% in March 2024.
Executive Summary
Amid widespread speculation about the future of the EV market following the Trump administration’s plans to end federal EV incentives and a flurry of news about the effects of newly announced tariffs on the auto industry, consumer sentiment toward EVs has not shifted as wildly as the headlines may suggest. While trends in demand are shifting geographically, socioeconomically and among individual brands, the industry continues to evolve.
This E-Vision Intelligence Report dives into key data points trending in each monthly JD Power EV Index update, along with other data points gathered from JD Power studies and pulse surveys, to offer a data-driven consumer perspective on the EV customer experience.
Growth Rates Normalize
While the overall growth rate in EV market share has slowed, EV’s currently account for 9.3% of the total new vehicle market, down from 9.6% in February and up from 8.4% in March 2024. The current growth rate is directly in line with the JD Power projection of 9.1% overall retail share for 2025, which is flat with 2024 totals and one percentage point higher than 2023 volumes.
Nearly One-Fourth of Vehicle Shoppers Seriously Considering EVs
The total number of active new vehicle shoppers who say they are “very likely” to consider an EV for their next vehicle declined slightly to 23.0% in March 2025, down from 23.3% in February 2025 and up half a percentage point from 22.5% in March 2024.
Consideration rates are highest among consumers earning more than $100,000 per year and those living in the West and Northeast. Consideration is also down three percentage points to 20% among vehicle shoppers who cite their political party affiliation as Republican. At 30%, the “very likely” consideration rate slightly improves (up 0.4 percentage points) among those who identify as Democrat.
Tesla Market Share Falters
Tesla has been at the center of news coverage of the EV market by virtue of its CEO, Elon Musk’s role in the Trump administration and reports of protests and vandalism at Tesla dealerships. According to JD Power data, Tesla is still the most-considered brand among active EV shoppers with 18.2% of those currently in the market for a new vehicle indicating that they are “somewhat likely” or “very likely” to consider an EV selecting Tesla as their top brand. That number is up from 17.7% in February 2025 but down from 20.5% in March 2024. Additionally, among the vehicle models with the highest levels of consideration by consumers, only the Tesla Model 3 (7th) ranks among the top 10. In March of 2024, the Model 3 was the fourth most frequently considered EV model.
Tesla’s overall share of the EV market has been declining steadily for the past two years as the brand has faced growing competition from other manufacturers and as its vehicle lineup has continued to age. Through December 2024, total Tesla share of the EV market had fallen to 47%.
Methodology
This JD Power E-Vision Intelligence Report is based on data and insights from the JD Power EV Index, the JD Power EV Retail Share Forecast, the JD Power 2025 U.S. Electric Vehicle Experience (EVX) Ownership Study,SM and the JD Power U.S. Electric Vehicle Consideration (EVC) Study.SM The JD Power EV Index is an analytics tool to benchmark the growing EV market in the United States. It tracks millions of data points aggregated into six categories—interest, availability, adoption, affordability, infrastructure and experience—to evaluate the progress to parity of EVs with gas-powered vehicles in the U.S. Each month, the JD Power electric vehicle practice will analyze these data points, and others to spotlight emerging trends and important shifts in consumer sentiment that are helping to define the fast-moving EV marketplace.
Find out More
This report was authored by Elizabeth Krear, vice president, electric vehicle practice; Brent Gruber, executive director, electric vehicle practice; Stewart Stropp, executive director, electric vehicle practice; and Kristen Richter, senior manager, electric vehicle practice. The JD Power E-Vision initiative is a company-wide program focused on maximizing JD Power industry-leading EV data, analytics, insights and solutions. Please contact us at the numbers below to connect with the authors or to learn more about the underlying research.
Media Contacts
Shane Smith; East Coast; 424-903-3665; [email protected]
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]