US EV Gross sales Up 385% Since 2019, Regular “ICE” Car Gross sales Down 14%

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We lately produced a number of unique studies on US electrical automobile gross sales and general US auto trade gross sales traits. By way of these studies, you may discover the prime automakers or auto manufacturers when it comes to their very own inner EV share or when it comes to their share of the general EV market, or you may discover development of the US EV market as an entire, or you may discover traits in auto model gross sales broadly, or you may take a look at traits in EV market share, or you may take a look at model-by-model EV gross sales development. There are quite a lot of enjoyable methods to chop the pie and see what’s been occurring. One factor that stands out in these studies in comparison with any others you may discover on the web on any of those subjects is that I’m going again to 2019 to tease out the comparisons and traits over time.

Nevertheless, one factor I’ve by no means actually carried out is slim down and spotlight modifications within the EV market in comparison with modifications within the ICEV market. (To be particular, I’m referring to the absolutely electrical, or BEV, market right here.) Since I’d already collected all the core knowledge from automakers through the years, plus a bit little bit of estimating for manufacturers that lag behind the remaining within the knowledge they report (Tesla included), this wasn’t an enormous problem — it simply required creating just a few extra rows in my Google Sheet and producing just a few extra charts. Nevertheless, I had not thought to do it till requested to by “Cypress” beneath a current article. What an incredible suggestion! Why didn’t I consider that?

Effectively, let’s simply get to the charts and numbers.

Right here’s one other means to have a look at the numbers earlier than I soar into some commentary:

Initially, as we are able to see, regardless of which period interval you take a look at from the previous 4 years, EV gross sales development crushes inner combustion engine automobile (ICEV) gross sales traits. Evaluating 2023 and 2022 totals, EVs noticed 47% development whereas ICEVs (gasoline automobiles) noticed 10% development. Evaluating 2023 and 2021 totals, EVs noticed 142% development whereas ICEVs (gasoline automobiles) noticed a 3% drop in gross sales. Wait, which powertrain is scuffling with its gross sales traits?

Dipping again into the large, horrible yr of COVID, EV gross sales have been up 356% in 2023 in comparison with 2020, whereas ICEV gross sales have been up simply barely, 1%.

Going even additional again, wanting on the pre-COVID numbers of 2019, we are able to see that EV gross sales have been up 385% in 2023 in comparison with 2019, whereas ICEV gross sales have been down 14%.

So, of all of the methods we’ve checked out modifications within the EV market and modifications within the auto market as an entire, I feel these comparisons most clearly spotlight that EV gross sales have been rising strongly yr after yr, whereas the non-EV market wants to fret about what’s occurring and plan accordingly.

Because of Cypress once more for the request/concept for this report.

You can too take a look at these numbers in a barely totally different means through the 2 charts beneath.

What are your ideas on these outcomes? Is the EV trade struggling, as so many headlines, writers, speaking heads, and commenters are desirous to say? Or is the fossil-fueled automobile trade the portion of the trade that’s struggling?