According to a new report from the Alliance for Automotive Innovation, ICE vehicles saw the biggest market share loss of any vehicle category in the first half of 2024, dropping by 2.3%. While consumers continue to switch to ICE alternatives, that transition won’t always happen at the same speed from year to year.
Less than 10 years ago, ICE vehicle sales made up virtually the entire U.S. car market — some 97% in 2016. This year, ICE vehicles made up 78% of new car sales, down about 18% since before the pandemic. In that time, Hybrids, EVs, and PHEVs have all seen significant growth in the U.S. thanks to expanded manufacturer offerings and generous federal and state credits.
