EV Expansion
07/25/2023 |
Electric-vehicle sales were 3.2% of U.S. vehicle sales in 2021 and 5.8% of sales in 2022. In 2023 they will reach 7.5% of sales and in 2024 easily 12%. This is because total vehicle sales are flat. From 2000-2022, sales averaged 16 million/year. Conversely, electric-vehicle sales have jumped from 40,000/month in mid-2021 to 100,000/month in mid-2023. Now prices are falling, available models are expanding, and battery range keeps improving.