J.D. Power revises its EV retail share forecast

J.D. Power lowered its EV market share forecast for 2024 and 2025, now projecting a 9% share in 2024, which equates to around 1.2 million battery-electric-vehicle sales, excluding plug-in hybrids and hybrid-electrics. This is down from the previous forecast of 12%. The growth in overall EV sales isn't enough to offset slower adoption and consumer interest in early 2024, according to J.D. Power.