EV Sales Show Strong Q2 Growth

By Staff Writer July 18, 2024

Electric vehicle sales in the U.S. grew by 11.3% year over year in the second quarter, reaching a record-high volume of 330,463 units, according to new estimates from Kelley Blue Book. This growth was driven partly by improved availability, higher discounts and elevated levels of leasing. Total EV sales last quarter were higher than Q1 sales by 23% percent. In Q2, market leader Tesla sales volume declined by 6.3% year over year, but new products, notably from General Motors, helped lift overall volume higher. In the second quarter, Tesla’s share of EV sales fell below 50% for the first time in the U.S. to 49.7%.

The sales estimates from Kelley Blue Book show that electric vehicles accounted for approximately 8% of total new-vehicle sales in the second quarter, higher than the 7.1% share in the first quarter of the year and higher than the 7.2% recorded in Q2 last year., gradually boosting EV adoption. Automakers that deliver the right product at the right price and offer an excellent consumer experience will lead the way in EV adoption.”

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Last modified on Thursday, 25 July 2024 09:30