U.S. Auto Sales Slump 3% in November as EV and Truck Markets Diverge
Total U.S. new vehicle sales fell to a 15.2 million seasonally adjusted annual rate in November 2025, with trucks and hybrids gaining while mainstream EVs continue to struggle post-tax credit.
Total U.S. new vehicle sales fell to a 15.2 million seasonally adjusted annual rate (SAAR) in November 2025, according to data from Cox Automotive and major automakers — a 3 percent decline from November 2024 and the fourth consecutive month of year-over-year decline. The data reveals a bifurcated market: trucks and hybrids are selling at or near record levels, while the mainstream EV market continues to struggle following the expiration of the federal tax credit.
The Headline Numbers
- Total SAAR: 15.2 million (down from 15.7 million in November 2024)
- Cars (total): 2.1 million units (down 12% YoY)
- Light trucks: 13.1 million units (down 1% YoY)
- EVs (BEVs only): approximately 70,000 units (down 49% YoY)
- Hybrids (including PHEVs): approximately 140,000 units (up 31% YoY)
The EV decline was expected given the tax credit expiration, but the speed of the correction surprised some analysts. Cox Automotive had projected a 35-40 percent decline; the actual number was closer to 49 percent.
Who’s Winning and Losing
Toyota continues to outperform, with total sales up 4 percent on the strength of the RAV4, Camry, and especially the hybrid variants. The company is struggling to produce enough hybrids to meet demand — wait times on a RAV4 Hybrid extend to 4-6 months at many dealerships.
Ford saw total sales fall 6 percent, driven almost entirely by the F-150 Lightning and Mustang Mach-E. The gas F-150 continued to sell well, and the F-150 PowerBoost hybrid is doing unexpectedly brisk business.
GM posted a modest 2 percent gain, with the story being the redesigned Chevrolet Bolt drawing significant showroom traffic ahead of its Q1 2026 launch. The Equinox EV and Blazer EV continued to struggle.
Stellantis had a tough month, with Ram and Jeep both losing share to Ford and GM. The Wagoneer and Grand Cherokee are aging against newer competition.
Tesla was roughly flat, with Model Y sales declining but Cybertruck volumes growing and the Model 3 Highland refresh generating some showroom traffic.
The Hybrid Surge
The most striking number in November’s data is the hybrid surge. Hybrids (including both traditional hybrids like the Toyota Prius and plug-in hybrids like the RAV4 Prime) now account for approximately 9.1 percent of total new vehicle sales — up from 6.4 percent in November 2024.
This represents a structural shift in consumer preferences rather than a temporary phenomenon. As consumers become more familiar with the efficiency benefits of hybrid technology, and as hybrid variants become more widely available across model lines, the hybrid share is likely to continue growing.
December Outlook
December is typically the strongest sales month of the year, driven by manufacturer incentives and dealer push to clear model-year inventory. Cox Automotive projects a December SAAR of 16.5-17.0 million — which would still represent a modest year-over-year decline.
The key variable for December is whether Tesla continues its aggressive pricing strategy and whether the new Chevrolet Bolt generates the kind of showroom traffic GM is hoping for. A strong December for the Bolt would signal that there is genuine mainstream demand for affordable EVs — if the product is right.
Motorlinks tracks monthly sales data. For more on the EV market in November, see our EV market reset analysis.
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