US EV Gross sales Up 170% in 1st Quarter vs. 1st Quarter of 2021

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One of many hottest subjects of the 12 months within the auto trade has been hype about EV gross sales drooping, or a minimum of not residing as much as expectations.

How a lot substance is definitely in that hype? Properly, just a little bit, however digging deeper, we are able to see that the EV market remains to be wanting excellent.

Sure, in comparison with Q1 2023, EV gross sales are up solely just a little bit within the first quarter of 2024 — simply 2%. Nonetheless, for those who look again two years, EV gross sales are up 71%, and for those who look again three years to Q1 2021, EV gross sales are up 170%!

Secondly, we’ve to carry Tesla into this briefly. Tesla had a gross sales drop in Q1 2024 in comparison with Q1 2023 (for numerous causes). With Tesla being such an enormous portion of US EV gross sales, any important modifications in Tesla’s gross sales traits are going to affect total US EV gross sales traits. In case you take Tesla out of those equations, US EV gross sales had been truly up .

In comparison with Q1 2021, non-Tesla EV gross sales had been up 343%. In comparison with Q1 2022, non-Tesla EV gross sales had been up 211%. In comparison with Q1 2023, non-Tesla EV gross sales had been up 24%. Even that final development determine of 24% is spectacular.

Maybe we’ve been just a little spoiled by development from the previous few years. Nonetheless, with Tesla having manufacturing delays for the US market in Q1 (as a result of firm upgrading the Mannequin 3 manufacturing line for the new “Highland” Mannequin 3), one has to suppose that development may very well be significantly stronger quickly.

We’ll see what occurs within the second quarter, however, for now, it appears to me there’s a lot to rejoice with reference to EV gross sales development within the USA. Don’t all the time imagine the hype.