EV gross sales within the U.S. in 2022 soared as new fashions, comparable to this 2023 Nissan LEAF, and excessive curiosity pushed gross sales volumes previous 800,000 for the primary time.
In an auto market that noticed complete new autos fall 8% 12 months over 12 months, battery-electric autos (EVs) gross sales have been a shiny spot.
Even with excessive costs, EV gross sales within the U.S. in 2022 soared, as new fashions and excessive curiosity pushed gross sales volumes previous 800,000 for the primary time, in response to Kelley Blue E-book estimates, a rise of 65% versus 2021. EV share of the whole market hit 5.8%, up from 3.2% in 2021.
By comparability, complete new-vehicle gross sales within the U.S. fell in 2022 to 13.8 million models, down from 15 million in 2021 and properly down from the 17.3 million the market delivered 5 years in the past in 2018, in response to the most recent counts from Kelley Blue E-book launched Jan. 17.
Because the analysts at Cox Automotive reported earlier this week in the course of the annual Trade Insights and Forecast Name, the U.S. market began the 12 months scuffling with extraordinarily low new-vehicle stock and ended the 12 months with falling new-vehicle demand, as increased rates of interest and elevated new-vehicle costs despatched many would-be patrons to the sidelines. On the finish of December, the common transaction value for a brand new automobile was approaching the $50,000 mark.
New EVs proceed to be costly in comparison with the general market, however there are indicators costs are coming down. EV-leader Tesla introduced large value cuts just lately, and new fashions on the horizon from mainstream makers comparable to Normal Motors promise “extra reasonably priced” EV pricing. Tesla remains to be far and away the EV market chief – and general luxurious automobile chief for the second straight 12 months, in response to Kelley Blue E-book estimates – however Tesla’s share of the EV market continues to tumble, as forecast, falling under 60% for the primary time in This fall of 2022.
Even with fast EV progress, 94% of recent autos bought within the U.S. final 12 months had a gasoline tank within the again and a combustion engine up entrance. That is the EV Decade, however the market is a good distance from changing into an EV market. Cox Automotive is forecasting 1 million EV gross sales within the U.S. for the primary time ever in 2023, which can push EV share increased. With new government-backed incentives and recent product set to launch, passing 1 million is all however assured.
Initially posted on Charged Fleet
