Colorado Surpasses California in EV Sales, Leading Nation with 25.3% Market Share

December 5, 2024
Colorado Surpasses California in EV Sales, Leading Nation with 25.3% Market Share
  • As 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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