Thanks To Price Drops, EVs and Hybrids Grow To 18% Of U.S. Vehicle Sales
The U.S. Energy Information Administration (EIA) has announced that, according to Wards Intelligence data, the sales of hybrid, plug-in hybrid, and battery-electric vehicles in the United States rose to 17.7 percent of new light-duty vehicle sales in the third quarter of 2023. So far this year, sales of these vehicles have accounted for 15.8 percent of all new light-duty vehicles thus far this year. Up from 12.3 percent in 2022 and 8.5 percent in 2021. The increase is due mainly to price drops.
The share of total light-duty vehicle sales for electrified vehicles rose due to both a decline in sales of non-hybrid gasoline- and diesel-fueled vehicles as well as an increase in sales of several existing BEV models. A large contributor to the rise in electrified sales was a decline in prices for popular battery-electric models. The average transaction price for a BEV dropped by 5 percent during the third quarter, settling at $50,282 on average. That is 24 percent below the price peak for an electric vehicle in the second quarter of 2022. The average price paid for a non-electric vehicle dropped by less than half a percent in that same period.
Luxury vehicles accounted for 91 percent of all battery-electric sales, making BEVs about 34 percent of the total luxury vehicle market. BEVs are still less than 2 percent of the non-luxury segments. About two thirds of all electric vehicles on offer are classed as luxury vehicles by Wards Intelligence.
The post Thanks To Price Drops, EVs and Hybrids Grow To 18% Of U.S. Vehicle Sales appeared first on EV Meme.
Source: https://www.evmeme.com/thanks-to-price-drops-evs-and-hybrids-grow-to-18-of-u-s-vehicle-sales/
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