S&P Global Predicts Electric Vehicle Sales Increase

Electric vehicle (EV) demand is projected to rise, with S&P Global Mobility forecasting global sales of 15.1 million battery electric vehicles by 2025, a 30% increase. However, uncertainty surrounding policy changes and tariffs under President Trump's administration is creating significant challenges for manufacturers like Tesla and BYD. Trump has criticized federal tax credits for EVs, labeling them a 'green new scam,' which could lead to cuts in consumer incentives and destabilize the market. Honda has expressed caution in launching new electric models and may delay production due to the unpredictable policy environment. The potential for tariffs on imports adds to the industry's concerns, complicating production and sales dynamics. Despite these challenges, some manufacturers like Rivian have seen slight delivery increases, while Tesla faced its first sales drop in over a decade.