Individuals purchased fewer new vehicles within the second quarter as provide chain issues pushed costs up, and client sentiment led us all to begin tightening our belts. New automotive gross sales within the second quarter of 2022 have been down greater than 20% from 2021 figures. However gross sales of 1 kind of automotive are rising.
Absolutely 5.6% of the vehicles Individuals purchased final quarter have been electrical automobiles.
Gross sales of battery-powered electrical automobiles — pure EVs — jumped to 196,788, a document excessive and a 13% improve from Q1.
Electrified automobiles — EVs plus hybrids, plug-in hybrids, and fuel-cell automobiles — made up 12.6% of latest automotive gross sales. That’s an almost 13% leap from one 12 months in the past.
Study extra: What’s EV, BEV, HEV, PHEV? Right here’s your information to kinds of electrical vehicles
continued to dominate, not simply in EV gross sales however luxurious automotive gross sales within the second quarter. Because the finish of final 12 months, Tesla has outsold all established luxurious automotive 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 have been Tesla merchandise. That’s down 9% from first quarter numbers.
The explanation? New competitors. Within the second quarter of 2022, there have been 33 fashions of EVs that made no less than one sale within the U.S. Final 12 months, 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 bought greater than 7,000 Ioniq 5 fashions — maybe sufficient to vault the automotive into the highest 4 best-selling EVs this 12 months if that tempo retains up.
Electrical vans are additionally a rising a part of the EV stability. Individuals purchased greater than 45,000 of them final quarter, with the introduction of the Ford F-150 Lightning lighting a gross sales fuse.
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grip on the hybrid market is nearly as intense as Tesla’s maintain on EVs. Roughly 55% of the hybrids Individuals purchased final quarter have been Toyota or Lexus merchandise. Ford
got here in a distant second, at 11.7%.
This story initially ran on KBB.com.