According to a new Experian report, that number has increased to just over 2.7 million.
Critics might try to push back saying the over 2.7 million EVs figure includes plug-in hybrids — it doesn’t. If we go back ten years to 2013, there were only about 96,000 EVs sold that yearDespite all the incorrect misinformation and disinformation posted on social media and some news websites about electric vehicles, and a pandemic that threw the global economy into disarray, including peak inflation, they have continued to emerge and expand. They are also poised for further growth.
The new EV registrations include retail only. It does not include any other types of vehicles, such as fleets, rentals, etc. 77% of the new EV registrations for the last 12 months were for luxury EVs. What qualifies as a luxury EV? Much of Tesla’s market share can be attributed to model availability. The range of models and vehicle segments they offer has appealed to the EV buyer, however we’re seeing more OEMs enter the EV market, offering a wider availability of models. With additional options for consumers to choose from, we could expect market share to shift over the coming years.
According to the report, 85% of EV owners also have a gas-powered vehicle — why is that? Do you expect those owners will eventually replace their gas vehicles with another EV?
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