Colorado Surpasses California in EV Sales, Leading Nation with 25.3% Market Share
December 5, 2024As part of its greenhouse gas emissions reduction plan, Colorado aims to have at least 940,000 electric vehicles on the roads by 2030.
Polis also emphasized that the rising demand for EVs is driven by competitive state and federal rebates that make purchasing these vehicles more affordable.
However, the future of federal tax credits for EVs may be uncertain under the incoming administration of President-Elect Donald Trump, who has expressed concerns about their impact on the auto industry.
In a significant milestone for electric vehicle (EV) adoption, Colorado has overtaken California, capturing 25.3% of new vehicle sales in the third quarter of 2024, compared to California's 24.3%.
Additionally, Coloradans can receive a $5,000 state tax credit for new EVs priced under $80,000, which will decrease to $3,500 in 2025.
Despite potential changes, experts believe that key tax breaks may remain due to their significance in various congressional districts.
This achievement marks the first time any state has surpassed California's historically dominant EV market share.
A recent report highlights Colorado as having the highest adoption rate of plug-in vehicles in the United States, further solidifying its position in the EV market.
Governor Jared Polis expressed enthusiasm over this achievement, noting that electric vehicles offer significant cost savings, with operating costs about one-third that of gasoline vehicles.
Colorado residents can benefit from various rebates, including a $6,000 incentive for trading in older vehicles for new EVs and a $4,000 rebate for purchasing used electric vehicles.
Residents like Lindsey Farrington have shared positive experiences with EVs, citing substantial fuel savings despite occasional challenges in finding charging stations.
Will Toor, director of the Colorado Energy Office, highlighted the importance of electrifying transportation to achieve net-zero emissions by 2050.
Summary based on 3 sources
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Sources
The Denver Post • Dec 5, 2024
Colorado moves to top spot in new electric vehicle sales, edging out CaliforniaColorado Public Radio • Dec 4, 2024
Sorry, California – Gov. Polis claims Colorado is now the top state for EV adoptionDenver 7 Colorado News (KMGH) • Dec 5, 2024
Colorado now ranks first in nation for market share of new electric vehicles