The Robust, Regular Development of the US Electrical Auto Market — Charts

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Electrical car gross sales have grown fairly persistently for the previous few years. Although, there’s been a robust narrative on the contrary recently. Whereas we’ve got tracked US EV gross sales for years right here on CleanTechnica and produce numerous quarterly experiences on the subject, we’ve got not produced experiences on tendencies in EV market share — till now.

Going again to 2019 to have a look at pure battery electrical car market on an annual foundation, we get a long run view on this, after which I additionally return on a quarterly foundation to This autumn 2021.

As we are able to see, annual progress in EV market share has been very robust for the previous three years. Actually, from 2022 to 2023, market share grew by 1.7 proportion factors, versus 0.3 proportion factors from 2019 to 2020 or 1.3 proportion factors from 2020 to 2021. It’s true that the expansion was not as robust because it was from 2021 to 2022 (2.5 proportion factors of progress yr over yr), but it surely’s nonetheless a fast stand up the chart.

How about if we zoom in a bit and take a look at quarterly gross sales?

The massive jumps are from Q2 2022 (4.8% market share) to Q3 2022 (6% market share) and from Q2 2023 (6.7% market share) to Q3 2023 (7.5% market share). You might say the expansion slowed within the 4th quarter of 2023, however it from this view, you may see there was an uncommon dip from Q1 2023 (6.9%) to Q2 2023 (6.7%). If EV market share had grown as anticipated in that interval, it could be round 7.2% in Q2 2023, after which the rise as much as 7.5% in Q3 2023 and seven.8% in This autumn 2023 would look extra pure.

In any case, these charts, progress within the US electrical car market seems to be good and wholesome. It’s one more instance of how the hype of a falling or failing EV market is just not actually based mostly a lot on actuality. And Q1 2024 is meant to look even higher.

What are your ideas on these numbers, charts, and tendencies?