Posted on 09/22/2023 11:02:35 AM PDT by Red Badger
The US electric car market continues to grow strongly. Yes, Tesla still dominates (that’s not changing anytime soon), but several other automakers are also seeing fast-growing full electric vehicle (BEV) sales, and the number of BEV options on the market has exploded in recent quarters.
Overall (lacking just a little bit of data from automakers who are stingy with their stats), the US electric vehicle market grew 147% from Q2 2021 to Q2 2023. It grew 57% from Q2 2022 to Q2 2023.
Let’s dig into the details a bit.
As you can see in the chart just above, the Tesla total continues to be the majority of the US BEV market. However, in Q2 2023, it’s closer to 50% than it’s been since the Tesla Model 3 hit mass production and started dominating the market. Even so, if you look only at non-Tesla BEV sales (the bottom bar in each group of bars), the market has gone from just under 6,000 units in Q2 2020 to nearly 35,000 in Q2 2021 to nearly 58,000 in Q2 2022 to a milestone 103,000 (nearly) in Q2 2023. Tesla still holds more than 60% of the market, though, thanks to its staggering 171,000 sales in Q2 2023 — which put it in 8th place among automakers in the overall auto sales chart (but that’s a coming story).
Here’s how it broke down by model:
That makes it look even more dramatic in favor of Tesla. (And perhaps it’s why Ford and others have decided there’s more upside to partnering with Tesla on Supercharging than downside.) But look at that growing model diversity! We’ve never had so many BEV options on the US market, and many of these are truly great options!
One more fun way I’ve found to crunch the numbers is to look at how specific models have seen their sales change year over year (in the 2nd quarter) and since Q2 2021. Let’s have a gander….
It’s unfortunate to see any models have their sales drop, but the good news is most have seen growth, sometimes huge growth (ahem, Tesla).
The models that did see sales drops since 2022 and 2021 are all older models. In the case of the BMW i3, it’s been discontinued. In the case of a few others, I would put it down to growing competition.
Overall, there’s much to be happy about on the US electric car market. I’m excited for Q3, which is just around the corner! (I’ll be sure to get a report up on Q3 faster than I did on Q2.) What do you expect from the next report, and what highlights did I miss in this 2nd quarter EV sales report?
“. . . are also seeing fast-growing full electric vehicle (BEV) sales,
So all those stories about EV’s piling up on dealer lots are just so much horse-pucky?
We DO NOT need the expensive, unreliable, and unnecessary electric cars, or their charging stations!!
Ban them!!
It’s fun with numbers.
If you sold 1 EV last year and 2 this year, that’s a 100% increase.................
People buy them out of curiosity and as a 2nd car. Most say Never Again. That’s why Domestic sales have tanked. People also don’t want to add $5k chargers to their house just to watch their garage catch fire.
There are lies, damn lies and statistics…
Not likely.
Interesting charts.
Where’s the one showing Ford has lost 6 Billion Dollars due to EV sales?
Some of the numbers are misleading. For instance, Toyota’s 748% increase had more to do with last year’s offering being underwhelming, and Toyota certainly not pushing them.
It’s a landslide! Still a firm NO! I wonder what, or if, there is any kind of ratio for EV saviours and CONvid vax recipients. Saving the erf ain’t easy.
The stat I just read said that 6.5% of all registered cars are EVs.
Wonder how many are government fleets.
Who can afford a garage to put a 5 to 10 thousand dollar charging station in it.
Why is it always sound like these people want to force me to buy one of these crapmobiles?
and the Biden Admin is buying 90% of them
Bidenmobiles.
Yesterday I had 5 dollars in my wallet. Then, today, a friend gave me the 10 bucks he owed me. I increased my wealth by 200%!!
All of my cars have batteries and have things that run on electricity.
“It’s fun with numbers.
If you sold 1 EV last year and 2 this year, that’s a 100% increase.................”
My thoughts, exactly.
It looks like Tesla is way out selling all others. The others are losing billions.
Now wait a few years and see if the owners of electric vehicles still are driving them or dump them as my cousin did. He has a BMW hybrid now that cost more then his parents home did. He still does not get it but I am betting he will buy a gas car.
Percentages are fun.
I just heard some “financial expert” say that stocks went down 18% last year and are up 18% this year so folks are even.
Of course it does not work that way.
Simple example:
You have $100 and the market goes down 20% (to keep the calculation easy).
Now you have $80.
Then the market went up 20%.
Now you have $96.
Lol.
“Right now there are about 286 MILLION vehicles on the road. Being replenished by about 14.9 million new car/truck sales per year”
Call us when your crack 1 million in new sales
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