The worldwide electrical car market took a success within the first quarter of 2024, and this was additionally evident in producers’ Q1 gross sales numbers. Q1 2024 US EV gross sales have been nonetheless up year-over-year, however solely by 2.6%, whereas the EV share out of the whole variety of automobiles bought dropped 7.3% in comparison with This autumn 2023.
Tesla felt the slowdown and was not capable of ship all of the automobiles it constructed on this 12 months’s first quarter, however its Mannequin Y crossover was nonetheless the preferred EV within the US by far. People purchased 268,909 EVs in Q1 2024, and over one-third have been Tesla Mannequin Ys, or 96,729 examples, making it a transparent gross sales chief.
Slowdown or no slowdown, Tesla sells much more EVs than everybody else
The truth that Tesla could not ship 47,000 of the EVs it inbuilt Q1 2024 is an indication of better market developments, however it nonetheless delivered a powerful almost 386,810 automobiles globally.
The EV gross sales knowledge printed by Kelley Blue E-book’s mum or dad firm Cox Automotive reveals that even regardless of the EV market slowdown, the Mannequin Y nonetheless recorded a 1.4% Q1 gross sales improve year-over-year, whereas its decrease, cheaper brother, the Mannequin 3, noticed a 43.9% lower. Tesla’s smallest sedan bought 30,842 automobiles this previous quarter, significantly down on Q1 2023, when virtually 55,000 models have been bought.
Mannequin Y gross sales accounted for a 35.4% share of the complete US EV market in Q1, adopted by Mannequin 3 with 11.3%. In third place was the Ford Mustang Mach-E, which bought 9,589 automobiles and gained a 3.5% share. That’s up 77.3% in comparison with its Q1 2023 numbers. It’s adopted by the Rivian R1S with 8,017 gross sales and a market share of two.9%.
Subsequent got here one other Ford, the F-150 Lightning, which bought 7,743 models in Q1 2024 for a 2.8% market share and an 80.4% Q1 improve year-over-year. Ford had an excellent Q1 2024 and issues appear to be trying up for the remainder of the 12 months too.
One of many lowest-selling EVs was the Genesis G80 Electrified. It solely moved 104 models, which is 72.6% down year-over-year in comparison with the 380 examples bought in Q1 2023. Honda delivered 19 Prologues and there was even a brand new BMW i3 sale, despite the fact that the mannequin was formally discontinued in July 2022 and now makes for a temptingly reasonably priced second-hand purchase.
EV share of whole model gross sales in Q1 2024