USA: E-vehicle purchase is increasing

USA: E-vehicle purchase is increasing

New York, 8.1.2023

The share of electric vehicles sold in the U.S. rose to 5.8% last year from 3.2% in 2021, new data from Motor Intelligence shows.

Automakers plan to launch a wave of new electric vehicles in 2023 that could further rival Tesla, which still dominates the market with about 65% of total electric vehicle sales in 2022.

Facts:

• In 2022, according to Motor Intelligence, sales of electric cars grew by two thirds, while the market for larger cars fell by 8%.

• Tesla — which hit a $1 trillion valuation last year — saw its share of U.S. sales fall from 72% in 2021 to 65% in 2022.

• Ford was second with 7.6% market share, followed by Hyundai and subsidiary Kia, which together account for 7.1%.

• Ford and Rivian remain the only automakers selling significant numbers of battery-powered pickups. Ford launched its F-150 Lightning EV pickup truck in May.

• Rivian delivered 20,332 of its R1T pickups and other vehicles in 2022, but lost over 70% of its market value in 2022 compared to 2021.

Zoom out:

• Heading into 2023, automakers still face challenges for wider EV adoption, including rising interest rates, battery material shortages, a recession that could impact consumer spending, and a lack of charging infrastructure.

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