In a groundbreaking development, Americans purchased over one million electric vehicles (EVs) in 2023, marking the highest number of EV sales in a single year in the country’s history.
According to a report by Bloomberg New Energy Finance, more than 960,000 fully electric vehicles were sold through October. With the expected sales in subsequent months, the million-unit milestone was achieved last month.
Cox Automotive, a prominent tracker of US auto sales, corroborated this estimate. The surge in sales can be attributed primarily to the increasing variety of EV models available on the market. By the second half of 2023, there were 95 different EV models available in the US, indicating a 40% increase in just one year.
Additionally, the Inflation Reduction Act, which offers tax credits for EV purchases, has played a significant role in boosting sales. Electric vehicles accounted for approximately 8% of all new vehicle sales in the US during the first half of 2023, as per the Bloomberg NEF report.
However, this figure is still considerably lower than China, where EVs constituted 19% of all vehicle sales. Globally, EVs accounted for 15% of new passenger vehicle sales.
In the first half of 2023, China held the lead in global EV sales with 54%, followed by Europe with 26%. The US, as the world’s third-largest EV market, accounted for only 12%.
Despite the increasing sales of EVs, global carbon emissions from vehicles continue to rise. Bloomberg NEF data indicates that North America, including the US, continues to produce the highest volume of carbon emissions from road transportation compared to other major global regions.
The Bloomberg NEF report suggests that it will take until later in this decade for electric vehicles to have a meaningful impact on global carbon emissions.
Corey Cantor, a senior associate for electric vehicles at BNEF, highlighted the progress made by companies like Rivian, Hyundai, Kia, Mercedes-Benz, Volvo, and BMW in the US market, apart from Tesla.
Ford reported record-breaking EV sales in November, including strong sales for the F-150 Lightning electric truck, a model for which production had been scaled back earlier.
Cantor stated that the market as a whole is expected to see over 50% growth year-on-year, which is a healthy trend considering the high base of sales from the previous year.
While there were reports of a slight slowdown in EV demand this year, it was minimal, according to Cantor. Ultimately, US EV sales were only a few hundred thousand units lower than projected.
Stephanie Valdez Streaty, the director of industry insights at Cox Automotive, attributed the slightly lower sales to a shift from early adopters to more cautious mainstream car buyers.
She also emphasized the need for auto dealers to improve customer education regarding the benefits and value of electric vehicles.
Lesley
Sichuan Green Science & Technology Ltd., Co.
0086 19158819659
Post time: Jan-06-2024
