13th July 2024

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It’s enjoyable and fascinating to take a look at which automakers lead full electrical automobile (BEV) gross sales within the USA, and to take a look at which auto manufacturers lead the market. I’ll get into that breakdown in a second. Nonetheless, first, much more enjoyable for me is taking a look at which auto manufacturers and teams are reaching a better proportion of their very own gross sales being electrical. So let’s begin with that.

Earlier than we get into the person manufacturers, word that 7.5% of US auto gross sales have been BEV gross sales within the third quarter of 2023. Except for the total electrical manufacturers (Tesla, Rivian, Lucid, and Zevo), 7 auto manufacturers had a better BEV share than the US common.

As you possibly can see within the chart above and within the title, Audi led the best way, with 12.7% of its automobile gross sales being BEV gross sales within the third quarter. Volkswagen was simply half a proportion level behind it, with 12.2% of its gross sales being BEVs. Mercedes (11.6%), Porsche (10.3%), Volvo (9.5%), and Cadillac (8.5%) took the following 4 pictures, exhibiting that it’s premium auto manufacturers which can be main the best way into an electrical future in america.

It’s an analogous story when you have a look at issues from an general group/company perspective. Volkswagen Group is king of the hill, with 12.1% of its automobile gross sales being full EV, adopted carefully by Mercedes (11.6%) after which Geely (9.5%) a bit decrease simply due to its Volvo possession.

A few of the firms that do very nicely in absolute phrases are far more reasonably place as soon as wanting on the matter from this relative, adjusted perspective. Particularly, Ford, Hyundai, and Chevrolet seemed superb when wanting on the numbers in isolation.

However let’s bounce into these absolute numbers a bit.

I’m throwing the pure-play EV startups again into the combo right here. We are able to see once more that Tesla dominates the BEV market within the US, and that is nothing new. Ford, Hyundai, Chevy, and Rivian are fairly shut and aggressive throughout the following 4 spots — and issues might flip round between them from quarter to quarter. Volkswagen, Mercedes, and Audi are a step change beneath them, however now we all know that these mid-table manufacturers are literally doing significantly better when it comes to proportion of their gross sales being electrical.

We might additionally speak about all the laggards which can be doing so poorly on all of those tables, nevertheless it appears like there’s no level in losing digital ink on these firms at present.

Final however not least, although, we will bounce into how the US BEV market is cut up on a proportion foundation by auto manufacturers and teams.

Tesla nonetheless accounts for 54.5% of the US BEV market. That has shrunk in latest quarters, although, so one can marvel if it’s going to drop beneath 50% in some unspecified time in the future in 2024 as BEV fashions and gross sales from different automakers proceed to develop.

Wanting simply at manufacturers, Ford is available in second place with 7.1% of the US BEV market and Hyundai is available in third with 5.7% share. If we have a look at it by general auto group, these latter two are primarily flipped — Hyundai–Kia will get second place (because of the addition of Kia’s EV gross sales) at 7.9% share whereas Ford stays at 7.1% share to seize the bronze. Then there’s Volkswagen Group, GM, and Rivian.

What jumps out to you from these rankings? What do you count on within the final quarter of 2023 and in 2024?

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