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We not too long ago produced a number of unique reviews on US electrical automobile gross sales and general US auto trade gross sales developments. By way of these reviews, you possibly can discover the highest automakers or auto manufacturers when it comes to their very own inside EV share or when it comes to their share of the general EV market, or you possibly can discover development of the US EV market as an entire, or you possibly can discover developments in auto model gross sales broadly, or you possibly can have a look at developments in EV market share, or you possibly can have a look at model-by-model EV gross sales development. There are a whole lot of enjoyable methods to chop the pie and see what’s been happening. One factor that stands out in these reviews in comparison with any others you may discover on the web on any of those subjects is that I’m going again to 2019 to tease out the comparisons and developments over time.
Nevertheless, one factor I’ve by no means actually executed is slender down and spotlight modifications within the EV market in comparison with modifications within the ICEV market. (To be particular, I’m referring to the absolutely electrical, or BEV, market right here.) Since I’d already collected the entire core information from automakers over time, plus a bit of little bit of estimating for manufacturers that lag behind the remainder within the information they report (Tesla included), this wasn’t an enormous problem — it simply required creating a couple of extra rows in my Google Sheet and producing a couple of extra charts. Nevertheless, I had not thought to do it till requested to by “Cypress” underneath a latest article. What an incredible suggestion! Why didn’t I consider that?
Properly, let’s simply get to the charts and numbers.
Right here’s one other means to take a look at the numbers earlier than I soar into some commentary:
Initially, as we will see, regardless of which period interval you have a look at from the previous 4 years, EV gross sales development crushes inside combustion engine automobile (ICEV) gross sales developments. Evaluating 2023 and 2022 totals, EVs noticed 47% development whereas ICEVs (fuel automobiles) noticed 10% development. Evaluating 2023 and 2021 totals, EVs noticed 142% development whereas ICEVs (fuel automobiles) noticed a 3% drop in gross sales. Wait, which powertrain is combating its gross sales developments?
Dipping again into the massive, horrible 12 months of COVID, EV gross sales have been up 356% in 2023 in comparison with 2020, whereas ICEV gross sales have been up simply barely, 1%.
Going even additional again, trying on the pre-COVID numbers of 2019, we will see that EV gross sales have been up 385% in 2023 in comparison with 2019, whereas ICEV gross sales have been down 14%.
So, of all of the methods we’ve checked out modifications within the EV market and modifications within the auto market as an entire, I believe these comparisons most clearly spotlight that EV gross sales have been rising strongly 12 months after 12 months, whereas the non-EV market wants to fret about what’s taking place and plan accordingly.
Due to Cypress once more for the request/concept for this report.
It’s also possible to have a look at these numbers in a barely completely different means through the 2 charts beneath.
What are your ideas on these outcomes? Is the EV trade struggling, as so many headlines, writers, speaking heads, and commenters are desirous to say? Or is the fossil-fueled automobile trade the portion of the trade that’s struggling?
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