With the primary quarter of 2024 behind us, it is time to take a look at how electrical car gross sales are faring within the U.S. amid what many consider to be a slowdown within the charge of EV adoption. And whereas it has slowed down in some methods, a number of manufacturers with robust EV video games are doing effectively anyway—and there are just a few shock winners right here too.
In keeping with gross sales knowledge analyzed by InsideEVs, throughout Q1 2024, the 19 manufacturers we examined beneath offered over 102,000 all-electric automobiles. For this group, it is the third-highest quarterly outcome ever. Nevertheless, the year-over-year enhance amounted to 18%, which is the slowest outcome for the group in just a few years.
It is usually essential to notice that this knowledge appears at non-Tesla EV gross sales; you could find that firm’s newest outcomes right here.
BEV gross sales surged in 2023
In 2023, all-electric automobile gross sales elevated to about 1.1 million items (estimated). Out of that, a minimum of 450,000 had been offered by conventional carmakers (up 83% in comparison with 2022). 2024 is predicted to be a doubtlessly slower yr as many shoppers anticipate extra charging, cheaper choices and new battery applied sciences to take off.
This group of non-Tesla manufacturers consists of conventional carmakers that report their all-electric automobile gross sales within the U.S., like Audi, BMW, Normal Motors’ BrightDrop supply van division, Cadillac, Chevrolet, Ford, Genesis, GMC, Hyundai, Kia, Lexus, Mazda, Mercedes-Benz, Nissan, Porsche, Subaru, Toyota, Volkswagen and Volvo.
Not all producers report their gross sales leads to the U.S., particularly the newer firms like Tesla, Rivian, Polestar, Lucid, Fisker and VinFast. They don’t get away gross sales by nation or area so their figures cannot be included on this report. They’re additionally 100% electrical already.
A number of non-Tesla manufacturers are lacking from the group. Moreover, assuming that Tesla represents roughly half of all EV gross sales within the U.S. (in all probability effectively over 100,000) we are able to estimate that the U.S. whole EV gross sales in Q1 had been someplace between 225,000-250,000.
EV Gross sales By Manufacturers – Q1 2024
In Q1, similar to in Q3 2023 and This fall 2023, Ford offered extra all-electric automobiles (20,223) than every other non-Tesla model within the U.S. It was the one outcome above 20,000 throughout the group.
Solely three different manufacturers exceeded a stage of 10,000: Kia (11,412), BMW (10,713) and Hyundai (a minimum of 10,468). Within the case of Hyundai, we do not have the quantity for the Hyundai Kona Electrical, as its gross sales are lumped in with the gas-powered Kona.
A fifth-position end for Chevrolet is a disappointment, however we all know that the model’s ramp-up points with the Ultium platform, adopted by software program points, performed a job right here. The model not produces the favored Chevrolet Bolt EV/Bolt EUV duo, which underpinned most of its EV gross sales in 2023.
General, we are able to see a powerful place for a lot of premium manufacturers, together with BMW, Mercedes-Benz and most not too long ago Cadillac.
* Excludes Tesla and different manufacturers for which knowledge was not accessible
** Hyundai gross sales with out the Hyundai Kona Electrical mannequin
Now let’s take a look at the share of EVs out of the automaker’s whole gross sales. This exhibits how superior a carmaker is on its electrification journey to change into 100% electrical sometime.
The listing of manufacturers consists of solely conventional ones, for which knowledge is obtainable. Manufacturers that promote solely all-electric automobiles are excluded as a result of their share is at all times one hundred pc.
In Q1, the very best EV share was achieved by Cadillac at 16.4%. It was a bit shocking however a really constructive consequence for Normal Motors’s luxurious arm. Cadillac’s EV share noticeably exceeded a number of German luxurious manufacturers (Audi, BMW and Mercedes-Benz) that each one had 12+ p.c outcomes.
Volkswagen continued to be the primary mainstream model by way of EV share (7.5%), adopted by Kia (6.4%), Hyundai (a minimum of 5.7%) and Ford (4.2%). Chevrolet famous 2.2%.
* Excludes Tesla and different manufacturers for which knowledge was not accessible
** Hyundai gross sales with out the Hyundai Kona Electrical mannequin
*** Mercedes-Benz (excluding vans)
For reference, the U.S. common EV share for conventional manufacturers may be estimated at over 3% (assuming roughly 7% common EV market share, when together with Tesla and different all-electric manufacturers).
Keep tuned for extra knowledge on which model is probably the most electrified; a separate report for automotive teams is coming subsequent. If you’re desirous about seeing extra detailed gross sales outcomes for the person manufacturers, please examine our earlier reviews: