The second quarter of 2024 is behind us and because it seems, it wasn’t that unhealthy for non-Tesla EV gross sales within the U.S. Electrical quantity elevated to a brand new document, the year-over-year development fee improved in comparison with Q1, and we are able to see noticeable progress in lots of areas.
In line with gross sales knowledge analyzed by InsideEVs, throughout Q2 2024, the 21 manufacturers we examined bought over 142,000 all-electric automobiles—36% greater than a yr in the past. For this group, it is the very best quarterly outcome ever recorded, and that does not even embrace a number of promising new EV manufacturers like Rivian.Â
It’s also essential to notice that this knowledge appears at non-Tesla EV gross sales; you’ll find that firm’s newest outcomes right here.
Non-Tesla EV gross sales expands
The yr 2024 is anticipated to convey a noticeable improve in non-Tesla all-electric car gross sales within the U.S. The principle cause for that’s natural development, mixed with new manufacturers, becoming a member of the EV phase.
This group of manufacturers contains conventional carmakers that report their all-electric automotive gross sales within the U.S., like Acura, Audi, BMW, Basic Motors’ BrightDrop supply van division, Cadillac, Chevrolet, Ford, Genesis, GMC, Honda, Hyundai, Kia, Lexus, Mazda, Mercedes-Benz, Nissan, Porsche, Subaru, Toyota, Volkswagen and Volvo.
Not all producers report their gross sales ends in the U.S. particularly, particularly the newer corporations like Tesla, Rivian, Polestar, Lucid, Fisker and VinFast. They don’t get away gross sales by nation or area so their figures cannot be included on this report. Moreover, these manufacturers are additionally 100% electrical already.
Once more, a number of non-Tesla manufacturers are lacking from the group resulting from a scarcity of official gross sales knowledge. Moreover, assuming that Tesla represents roughly half of all EV gross sales within the U.S. (probably over 160,000, however lower than in Q2 2023) we are able to estimate that the U.S. whole EV gross sales in Q2 exceeded 300,000.
EV Gross sales By Manufacturers, Q2 2024
Concerning uncooked quantity, Ford stays the highest non-Tesla EV model, with 23,957 bought in Q2, up 61% from a yr in the past. Subsequent is Kia with 17,980 items and an enormous development fee of 131% year-over-year, adopted by Hyundai with greater than 15,000 items. These embrace 15,172 Ioniq 5s and Ioniq 6s, plus an undisclosed variety of Hyundai Kona Electrical fashions.
2024 Ford Mustang Mach-E Rally
BMW additionally crossed the ten,000 EV-mark at 14,081 gross sales, and so did Chevrolet at 11,217 and almost definitely Rivian as properly. (Globally, Rivian gross sales are estimated to be near 14,000 items in Q2.) Nevertheless, all three manufacturers are rising extra slowly than the non-Tesla common, and within the case of Chevrolet, Q2 was down 20% year-over-year. Although new Chevy and GM EV fashions are rolling out, the shortage of the Bolt EV and Bolt EUV have harm its whole quantity.Â
One of the vital fascinating issues in Q2 is the soar of the Toyota model, which bought 7,571 items in Q2 (up 286%) and located itself within the prime 10 non-Tesla listing, forward of Nissan and Volkswagen. Is it an indication of awakening or only a non permanent surge, fueled by lease incentives? Time will inform. An excellent greater development fee was achieved by Toyota’s Lexus model, which was up 333%.
2024 Honda Prologue Elite
In Q2 we welcomed the Acura (338) and Honda (1,535) manufacturers to the listing. EV gross sales had been additionally restarted by Fiat, however we aren’t totally certain about its preliminary numbers (as much as 163 items) so it isn’t but included.
Because the market matures, we are able to see step by step growing quantity and extra manufacturers becoming a member of the social gathering. Extra ones ought to seem within the chart within the subsequent quarters. It would divulge to us the non-Tesla EV gross sales, which have gotten nearly all of the EV phase within the U.S.
* Excludes Tesla and different manufacturers for which knowledge was not obtainable
** Hyundai gross sales with out the Hyundai Kona Electrical mannequin
*** Mercedes-Benz with out eSprinter van
Now let us take a look at the share of EVs out of the automaker’s whole gross sales. This exhibits how superior a carmaker is on its electrification journey to change into 100% electrical sometime.
The listing of manufacturers contains solely conventional ones, for which knowledge is out there. Manufacturers that promote solely all-electric vehicles are excluded as a result of their share is all the time one hundred pc.
The second quarter of 2024 introduced us one other win for Cadillac, which shot its EV share to a really good 19.0% (in comparison with 16.4% in Q1 and simply 3.5% a yr in the past). This fashion, Cadillac strengthened as probably the most electrified “conventional” model within the U.S. with an enormous potential for additional development with the upcoming launch of a number of new fashions. The addition of EVs to Cadillac’s lineup seems to be one of many GM’s most profitable strikes to this point.
There are a number of premium/luxurious manufacturers with greater than 10% EV share, however our consideration was caught by Hyundai’s Genesis, which famous a 13.2% EV share document in Q2. That is one other fascinating win because the model is now between BMW and Mercedes-Benz when it comes to EV share.
Kia was the primary conventional “mainstream” model when it comes to EV share final quarter with a document 8.7% share its whole gross sales. Kia was not the one South Korean model that handed Volkswagen (5.7%)—Hyundai additionally improved its place to no less than a 7.1% EV share.
Wholesome total-volume progress was additionally seen by Ford (4.7%), Lexus surged to 4.5% (from simply 1.1% a yr in the past), whereas Chevrolet continues to be lagging at 2.5% (in comparison with 3.1% a yr in the past and nearly 5% at its document time of Q1 2023.) Porsche in all probability famous one of many highest decreases in EV share to only 3.8% (from 8.7% a yr in the past), but it surely is perhaps non permanent because of the upcoming launch of the closely up to date Taycan and all-new Macan.
* Excludes Tesla and different manufacturers for which knowledge was not obtainable
** Hyundai gross sales with out the Hyundai Kona Electrical mannequin
*** Mercedes-Benz (excluding vans)
A separate report for automotive teams is coming subsequent. If you’re thinking about seeing extra detailed gross sales outcomes for the person manufacturers, please verify our earlier experiences:
