Prediction: U.S. Plug-In Electric Vehicle Sales To Exceed 514,000 In 2023
Last year, electric car sales in the US almost reached 100,000 and this year sales exceed 76,000 in the first eight months, crossing 250,000 cumulative sales since December 2010.
According to Navigant Research, the United States will remain the largest market for electric cars for the next 10 years.
In 2023, sales are expected to exceed 514,000, which would be some 43,000 a month (more than 30,000 above today’s levels).
In the geographic outlook, Navigant Research threw in some insights on cities:
“The top cities for LD PEV sales among all of the regions examined in this report are expected to be Los Angeles, Paris, and Tokyo. Cities with higher densities will likely see greater interest in incentivizing PEV purchases, optimizing PEV charging, and developing publicly available EV supply equipment (EVSE) infrastructure. The overall growth of LD PEV sales will be considerable throughout the world over the next decade. Navigant Research forecasts that the global LD PEV market will grow at a compound annual growth rate (CAGR) of 24.6% while the global market for LD vehicles will grow at a CAGR of only 2.6%. How and where PEVs are bought will affect grid distribution systems and utility business models since Navigant Research estimates PEVs increase residential customer load by 33% to 37%.”