US EV Gross sales — Sturdy Will increase Yr Over Yr Each Month of the Yr

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A brand new chart on US EV gross sales has me revisiting a subject Steve Hanley and I’ve each coated not too long ago, but it surely’s warranted, as a result of there are a number of headlines and there’s a number of hype falsely declaring that the EV market is struggling. Typically such tales are targeted on the US market and generally they’re targeted extra broadly, however it doesn’t matter what their focus, they’re unsuitable. On this story, the main focus is US EV gross sales, but additionally be aware that international BEV gross sales grew from 14% share of the world auto market in 2022 to 16% share of the world auto market in 2023. Gross sales elevated in a large, broad, numerous international trade.

The chart comes from Argonne Nationwide Laboratory, by way of the US Division of Vitality. It exhibits that that BEV gross sales within the US have elevated each month 12 months over 12 months for the previous two years.

“A comparability of month-to-month EV gross sales information for the final three calendar years exhibits that for every particular person month, EV gross sales elevated considerably from the 12 months earlier than. The best gross sales for a single month in 2021 was about 50,000 automobiles, for 2022 was about 80,000 automobiles, and in 2023 was over 100,000,” the US DOE writes. “Gross sales are sometimes lowest in January following an increase that normally takes place in December.”

Certainly, if you happen to have a look at the expansion for every month 12 months over 12 months, you’ll be able to see that electrical automobiles are booming ahead. Gross sales in every month of 2023 have been properly above gross sales of the identical month in 2022, which have been properly above gross sales of the identical month in 2021. There is no such thing as a gradual or sluggish development anyplace. You possibly can presumably say November was not as huge as different months in 2023 by way of general gross sales or development, however within the grand scheme of issues, EV gross sales development is trying good.

Let’s see what 2024 brings, however with Tesla Cybertruck manufacturing and gross sales ramping up, and with extra electrical fashions being added to the market, and with shoppers getting extra comfy shopping for full electrical automobiles produced by everybody from Rivian to Ford, there’s no purpose to assume EV gross sales ought to drop. The advantages of electrical automobiles are nonetheless enormous, and phrase of mouth remains to be rising.

Is that this the final time I’m going to really feel that I would like to jot down about rising EV gross sales and deceptive/incorrect hype that EV gross sales are not rising? Most likely not.

Are there some other huge EV gross sales tales we’re lacking?