Electric vehicle adoption continues to advance in the United States owing to the government’s efforts to promote the shift, including the significant incentives from the Inflation Reduction Act.
According to Bloomberg, EVs accounted for 7% of the overall automotive industry from January to June. It enabled the country to cross a crucial mass adoption tipping point of 5% for the country.
Furthermore, the report noted that EV sales surpassed the three million-unit threshold in the past few months.
More impressively, it is now on track to hit the 1 million unit sales milestone annually. As per Bloomberg Green analysis, sales in the twelve months through June recorded 977,445 EVs.
The US EV industry waited ten years to achieve its first million sales. It only took two years for the second million sales. It further dropped to only over a year for the third million. Now, the country is set to record its fourth million sales.
California leads US states in sales
California is one of the main drivers of EV growth in the US. According to the report, the Golden State led the top 10 global ranking for achieving the 5% crucial tipping point for new car sales.
Electric Cars Report indicated that EV sales in the state accounted for 25% of all new car sales in the second quarter of the year. It sold 125,939 EVs in the same period. Meanwhile, year-to-date sales are already at 223,298 in June.
Remarkably, one in every four new car sales in Q2 were electric-powered.
Tesla as the market leader
Tesla has successfully overthrew longtime market leader Toyota in the state regarding vehicle sales, regardless of powertrain, in Q2 2023.
The Musk-led company also owns 61% of EV market share in the US. According to CNBC, Tesla enjoyed a YoY sales increase of 30% to 336,892 EVs nationwide in H1 2023.
Hyundai–Kia followed it with 38,457 unit sales. General Motors ranked third with sales of 36,322 EVs.
The top five were completed by Volkswagen (26,538) and Ford (25,709), CNBC reports, citing Motor Intelligence’s data.
| Brand | Jan-June 2023 Sales | Jan-June 2022 Sales | YoY % Change |
| Tesla | 336,892 | 259,790 | 30% |
| Hyundai-Kia | 38,457 | 34,518 | 11% |
| General Motors | 36,322 | 7,820 | 365% |
| Volkswagen Group | 26,538 | 12,424 | 114% |
| Ford | 25,709 | 22,979 | 12% |
See Also:
- US EV registrations confirm Tesla’s strong lead
- US EV sales: Hyundai beats GM, Tesla sustains its lead
- The US EV battery sector might gain $100 billion from the Inflation Reduction Act
- The IRA bill is expected to boost the US EV market by 20%
- The Tesla Way: Toyota turns to US EV-maker for manufacturing expertise
The US’ progress in the EV industry is indeed remarkable. BloombergNEF analyst Corey Cantor even stated that US-based customers already acquire 1 million EVs every nine months if the tally includes plug-in hybrids.
