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Electrical automobile gross sales have grown fairly constantly for the previous few years. Although, there’s been a powerful narrative on the contrary currently. Whereas we’ve tracked US EV gross sales for years right here on CleanTechnica and produce numerous quarterly experiences on the subject, we’ve not produced experiences on tendencies in EV market share — till now.
Going again to 2019 to have a look at pure battery electrical automobile market on an annual foundation, we get a long term view on this, after which I additionally return on a quarterly foundation to This fall 2021.
As we will see, annual progress in EV market share has been very sturdy for the previous three years. The truth is, from 2022 to 2023, market share grew by 1.7 share factors, versus 0.3 share factors from 2019 to 2020 or 1.3 share factors from 2020 to 2021. It’s true that the expansion was not as sturdy because it was from 2021 to 2022 (2.5 share factors of progress yr over yr), however it’s nonetheless a fast stand up the chart.
How about if we zoom in a bit and have a look at quarterly gross sales?
The large 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 taking a look at it from this view, you’ll be able to 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 will be round 7.2% in Q2 2023, after which the rise as much as 7.5% in Q3 2023 and seven.8% in This fall 2023 would look extra pure.
In any case, taking a look at these charts, progress within the US electrical automobile market seems to be good and wholesome. It’s one more instance of how the hype of a falling or failing EV market just isn’t actually primarily based a lot on actuality. And Q1 2024 is meant to look even higher.
What are your ideas on these numbers, charts, and tendencies?
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