EV Market Share In The US Stays Under 1% For October – Graphs
The pace of plug-in car sales growth in U.S. slowed in October, as a major manufacturer (Tesla) regenerates after an end of quarter/September rush…and prepares for a late year push.
Overall, an estimated 10,832 sales (full details here) translated to a raw 9.1% increase year-over-year, but up 17.5% on an adjusted basis (as Nov 2015 had 26 selling days as compared to 28 in 2015).
Against the ~1,370,700 vehicles sold overall in the US for October, EV market share stood at 0.79% – up slightly from 2015; but when compared to recent months in 2016 (that have been showing consistent results over 0.85%, and a record 1.18% in September), October was a bit of a pullback.
As noted, this slowdown can mostly be attributed to Tesla’s shifted delivery priorities from October to the back end of this quarter, leaving a vacuum of sorts in its wake. To that end (and with the arrival of the Chevy Bolt EV and Toyota Prius Prime), we expect a number around 1.5% will be logged in December, bringing the net quarter result above the 1% level.
The average market share so far this year stands at 0.83%, while the total new sales now exceed 120,500. With two months to go, the US is nearly above its record of 122,438 EVs sold in a single calendar year (set in 2014).
Meanwhile, the Chevrolet Volt with 2,191 sales last month was the best selling model for October, which enabled GM to take top spot among manufacturers (2,454) as the last of the Chevrolet Spark EVs gave GM one final push higher.