New Mexico’s EV market share rebounds slightly to 4.78%

With implementation of Gov. Lujan Grisham’s unrealistic mandate that 43% of new vehicles sold in New Mexico be electric by summer of 2026, the Rio Grande Foundation is closely tracking changes in New Mexico’s EV sales share. According to the latest data from the Alliance for Automotive Innovation, New Mexico’s EV market share rebounded somewhat to 4.78% in the 2nd quarter of 2024. That is up slightly from  the 4.59 percent of vehicles sold in Q1 (which was actually down from the prior quarter), but a 4 percent increase isn’t going to get New Mexico anywhere near the 43% demanded by the Gov.

As Michelle Lujan Grisham pours New Mexicans’ tax dollars into EV charging stations and EV subsidies New Mexicans remain deeply skeptical about purchasing an EV (and even more skeptical about making one their primary vehicle). It is car dealers who are in the crosshairs and must sell exponentially higher numbers of EV’s than are currently desired.

How much money will car dealers lose in the push to sell EV’s? How many jobs and tax dollars will be sent to states lacking EV mandates such as Texas?