Amidst the rapid upward growth of electric vehicles (EVs), the United States market has emerged as a hotbed of activity, defying the skepticism around the industry’s growth. As we reflect on the third quarter of 2023, an interesting pattern emerges from the sales data analyzed by InsideEVs, highlighting a robust surge in the EV sector.
A total of 130,000 electric vehicles were sold during this period
Surprisingly, a staggering 130,000 all-electric vehicles were sold by 19 prominent brands during this period, marking a nearly double increase from the previous year. This boom signals not just a transient trend but a consistent upward trajectory expected to propel into the next year.
A key observation is the varied reporting practices among manufacturers, particularly new players like Tesla, Rivian, Polestar, and Lucid, who do not specify sales by country or region. Despite this, traditional carmakers have been more transparent about their all-electric car sales, offering a clearer picture of the market dynamics. This analysis encompasses sales volumes from 19 brands, including well-known names like Audi, BMW, General Motors, Ford, and Mercedes-Benz, among others.
Ford leads the pack in Q3 sales (excluding Tesla), with Hyundai and Chevrolet following closely. Interestingly, Chevrolet’s position is noteworthy, especially as it plans to discontinue some models like the Bolt EV/Bolt EUVs.
The sales figures for the first nine months of 2023 offer a closer look at the competitive landscape. Chevrolet and Ford are neck and neck in the race to be the top EV brand after Tesla. Hyundai, BMW, Mercedes-Benz, and Volkswagen also show significant sales, demonstrating the increasing appeal of EVs across diverse consumer segments.
The data hints at varying degrees of commitment among manufacturers towards the EV market. For instance, Toyota‘s modest BEV sales contrast starkly with those of Nissan and Volkswagen, indicating differing strategies in the EV space.
As of the end of September, the cumulative volume for the 19 brands discussed stood at over 316,000 units, a remarkable 94% increase year-over-year. This growth is a testament to the established brands’ rising dominance in the BEV segment, which now accounts for a significant portion of the market.
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