Even Joe Biden hasn’t had as many conflicting parties in recent months as electric vehicles. New reports recommend that earlier considerations this year about falling EV sales, which have so far killed the segment, could well have been an early burial.
Kelley Blue Book reports that 330,463 electric cars were sold in the United States in the second quarter of the year, an increase of 11. 3% over the same period in 2023 and 23% more than in the first quarter. They accounted for 8% of all new vehicle sales in the quarter, surpassing the previous record of 7. 2% set a year earlier.
And that flies in the face of Tesla’s sales, once a measure of segment fitness, which fell 6. 3% in the second quarter, year over year. KBB data shows that Tesla now accounts for 49. 7% of all electric vehicle sales in the United States. compared to 75% in 2022.
“EV sales beat expectations in a record quarter. “The rise of festivals creates continued pressure on prices, driving EV adoption,” according to Stephanie Valdez Streaty, director of industry research at Cox Automotive. “Automakers that offer the right product at the right price and deliver a great customer experience will lead the way in EV adoption. »
While its sales are down overall, Tesla’s Model Y electric crossover SUV is still the king of electric vehicles, with more than 101,000 units delivered to consumers in the second quarter. The third-best-selling model, according to KBB, is the Ford Mustang Mach-E, with 12,645 models sold in the second quarter. General Motors follows Tesla, with 12,645 total EV transactions.
Increased competition, dramatic price drops and one-time federal credits of up to $7,500 on select models have notably helped boost sales in the segment, despite the inherent limitations of electric vehicles, especially when it comes to diversity. and public charge.
In addition, cash refunds from automakers, which had still exhausted the supply chain shortages brought on by the pandemic, are now paying off. % is being rolled out on the hood of various models to drive sales. Lease offers are just as generous these days, and many automakers whose electric cars otherwise wouldn’t qualify for the aforementioned federal credit can offer the $7,500. incentives through their leasing programs.
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