According to Kelley Blue Book, electric vehicles accounted for 5.6 per cent of all new vehicles sold last year, which is an increase of 4.2 per cent in 2019.
“For the longest time, the majority of the EVs on the road were Teslas, and they still get the lion’s share of sales, but they’re now hardly the only game in town,” says Matt Degen, an editor at Cox Automotive.
For instance, the overall US market share for Hyundai is nearly equal to the market share for electric vehicles, according to Cox Automotive.
As per Peter Valdes-Dapena, “the global auto industry has been dealing with parts supply problems that have slowed production of all sorts of vehicles. But a number of electric models have also proven to be popular beyond what their manufacturers were prepared for.”
The Mustang Mach-E was “the first electric vehicle to take a notable chunk of Tesla’s still-dominant EV market share.” “Every one of the more than 150,000 Mach-Es that Ford has produced so far was built for a specific customer order, with none being made just to fill dealer lots,” according to Darren Palmer, Ford’s vice president of electric vehicle programs.
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He added: “We could sell it out at least two or three times over…We have held back from launching more global markets because we’re completely sold out.”
As Peter notes, in 2019, there were 11 EV models selling more than 1,000 units, according to Kelley Blue Book while there were 26 this year.
Tony Quiroga, the editor-in-chief of Car and Driver, said: “Less expensive electric vehicles are also getting better with longer driving ranges and faster charging.”
He added: “It’ll go from 10% to 80% on a fast charger in 18 minutes…which is something that only the luxury brands were doing.”
