U.S. passenger car sales fell 5% year-on-year in October, a reversal from a 6% rise in September. The negative performance is mainly due to the electric vehicle segment as some key subsidies have expired. Overall sales are also 8% below pre-Covid (2019) levels.
New US budget legislation eliminated tax credits of 7,500 and 4,000 on the purchase of new and used electric vehicles, respectively, from the end of September 2025. In our opinion, this factor will negatively impact BEV sales in the US (10% of global EV registrations in 2024), as was the case in Germany at the beginning of 2024.
However, this will simultaneously support market fundamentals as the share of vehicles with catalytic converters in local sales will gradually increase.
The US in 2025, according to our data, will provide 24% and 15% of global consumption for autocatalysts, respectively.
