Tesla and GM lead in U.S. EV sales this year as federal incentives of up to $7,500 per purchase ended in September, driving record sales. Market share for EVs hit 10.5% in Q3, up from 7.4% in Q2 and 7.6% in Q1, with Tesla holding a 43.1% market share through September.

GM, offering the most EV models, saw market share rise to 13.8% through Q3, surpassing Hyundai at 8.6%. GM sold 144,668 EVs through September, representing 6.8% of total U.S. sales, stating they are in a strong position for a changing market.

Ford, Volkswagen, Honda, and BMW follow Tesla, GM, and Hyundai in EV market share. Startups Rivian and Lucid have small market shares. Industry analysts expect a boom-and-bust cycle in EV sales following the end of federal incentives, as U.S. lags behind China and Europe in EV adoption.

Ford CEO Jim Farley predicts a drop in EV market share from 10-12% in September to 5% after incentive program ends. International Energy Agency reports China led in global EV adoption last year with 6.4 million EV sales, followed by Europe at 2.2 million units.

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1. The US economy added 943,000 jobs in July, exceeding expectations. Unemployment rate dropped to 5.4%, lowest since March 2020.

2. Apple reported record third quarter revenue of $81.4 billion, beating estimates. iPhone sales increased by 50% year-over-year.

3. Tesla delivered a record 201,250 vehicles in the second quarter, surpassing analyst predictions. Stock price surged 2.2% following the announcement.: Tesla, GM lead record U.S. EV sales as federal incentives end