Electrified vehicle sales, including hybrids, plug-in hybrids and all-electric, significantly increased over the course of the past year in the US.
A new report, released by the U.S. Energy Information Administration (EIA) using data from Wards Intelligence, reveals big progress in all three categories of xEVs (BEVs, PHEVs, HEVs).
As we can see, in the fourth quarter of 2021, the combined market share of xEVs almost reached 11%, including:
- BEVs: 3.4%
- PHEVs: 1.4%
- Total plug-ins: 4.8%
- HEVs: 6.1%
- Total xEVs: 10.9%
That's the highest level ever recorded and the biggest improvement since the launch of the Tesla Model 3, when BEVs separated from PHEVs.
EIA notes that part of the reason for the quickly increasing share of xEVs is that the sales of non-hybrid internal combustion engine (ICE) vehicles decreased.
The all-electric car market share in 2020 was estimated by Experian at 1.8% (compared to 1.4% in 2019). There is a big chance that soon BEVs alone will cross 5%. In California, they are already close to 10%.
The high growth was achieved despite the fact that the majority of the all-electric cars sold in the country were not eligible for the $7,500 federal tax credit, which in most areas would be the single largest incentive.
Additional graphs show how the number of plug-in models available on the market increased over the last several years. Interestingly, the number of hybrids decreased:
Another interesting chart is about the trends in particular segments. As it turns out, the key engine for growth for plug-ins is the crossover/SUV type of vehicles, which are taking the majority of BEV/PHEV sales right now.
That does not surprise us at all, considering how high the interest is in cars like Tesla Model Y, Ford Mustang Mach-E, Volkswagen ID.4, Hyundai Ioniq 5, and Kia EV6, to name just a few.