Gross sales of EVs have jumped once more, here is how a lot

By Sean Tucker

Electrified autos, together with hybrids are up almost 13% over a yr in the past

Individuals purchased fewer new automobiles within the second quarter as provide chain issues pushed costs up, and shopper sentiment led us all to begin tightening our belts. New automobile gross sales within the second quarter of 2022 had been down greater than 20% from 2021 figures. However gross sales of 1 sort of automobile are rising.

Totally 5.6% of the automobiles Individuals purchased final quarter had been electrical autos.

Gross sales of battery-powered electrical autos — pure EVs — jumped to 196,788, a file excessive and a 13% enhance from Q1.

Electrified autos — EVs plus hybrids, plug-in hybrids, and fuel-cell autos — made up 12.6% of recent automobile gross sales. That is a virtually 13% leap from one yr in the past.

Be taught extra:What’s EV, BEV, HEV, PHEV? Here is your information to kinds of electrical automobiles

Tesla (TSLA) continued to dominate, not simply in EV gross sales however luxurious automobile gross sales within the second quarter. Because the finish of final yr, Tesla has outsold all established luxurious automobile builders, together with BMW , Lexus, and Mercedes-Benz.

However the model’s maintain on the EV market is slipping. Sixty-six p.c of the brand new EVs Individuals purchased final quarter had been Tesla merchandise. That is down 9% from first quarter numbers.

The rationale? New competitors. Within the second quarter of 2022, there have been 33 fashions of EVs that made not less than one sale within the U.S. Final yr, there have been simply 19 within the second quarter.

Hyundai’s new Ioniq 5 EV made a splash of an entry into the market Hyundai offered greater than 7,000 Ioniq 5 fashions — maybe sufficient to vault the automobile into the highest 4 best-selling EVs this yr if that tempo retains up.

Electrical vehicles are additionally a rising a part of the EV steadiness. Individuals purchased greater than 45,000 of them final quarter, with the introduction of the Ford F-150 Lightning lighting a gross sales fuse

Learn: 10 prime hybrids for lower than $30,000

Toyota’s (7203.TO) grip on the hybrid market is sort of as intense as Tesla’s maintain on EVs. Roughly 55% of the hybrids Individuals purchased final quarter had been Toyota or Lexus merchandise. Ford (F) got here in a distant second, at 11.7%.

This story initially ran on KBB.com

 

(END) Dow Jones Newswires

07-25-22 0500ET

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