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We just lately produced a number of unique reviews on US electric vehicle sales and overall US auto industry sales trends. Through these reviews, you’ll be able to discover the top automakers or auto brands in terms of their own internal EV share or by way of their share of the general EV market, or you’ll be able to discover growth of the US EV market as a whole, or you’ll be able to discover trends in auto brand sales broadly, or you’ll be able to take a look at trends in EV market share, or you’ll be able to take a look at model-by-model EV sales growth. There are plenty 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 completed 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 totally electrical, or BEV, market right here.) Since I’d already collected the entire core knowledge from automakers through the years, plus a bit of little bit of estimating for manufacturers that lag behind the remaining within the knowledge they report (Tesla included), this wasn’t an enormous problem — it simply required creating a number of extra rows in my Google Sheet and producing a number of extra charts. Nevertheless, I had not thought to do it till requested to by “Cypress” beneath a latest article. What a terrific suggestion! Why didn’t I consider that?
Properly, let’s simply get to the charts and numbers.
Right here’s one other means to have a look at the numbers earlier than I bounce into some commentary:
To begin with, as we are able to see, irrespective of which period interval you take a look at from the previous 4 years, EV gross sales progress crushes inner combustion engine car (ICEV) gross sales developments. Evaluating 2023 and 2022 totals, EVs noticed 47% progress whereas ICEVs (fuel vehicles) noticed 10% progress. Evaluating 2023 and 2021 totals, EVs noticed 142% progress whereas ICEVs (fuel vehicles) noticed a 3% drop in gross sales. Wait, which powertrain is battling its gross sales developments?
Dipping again into the large, horrible yr of COVID, EV gross sales had been up 356% in 2023 in comparison with 2020, whereas ICEV gross sales had been up simply barely, 1%.
Going even additional again, wanting on the pre-COVID numbers of 2019, we are able to see that EV gross sales had been up 385% in 2023 in comparison with 2019, whereas ICEV gross sales had 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 a complete, I feel these comparisons most clearly spotlight that EV gross sales have been rising strongly yr after yr, whereas the non-EV market wants to fret about what’s occurring and plan accordingly.
Due to Cypress once more for the request/thought for this report.
You may also take a look at these numbers in a barely totally different means by way of 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 desperate to say? Or is the fossil-fueled car trade the portion of the trade that’s struggling?
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