US ELECTRIC VEHICLE SALES TO HIT RECORD THIS YEAR, BUT STILL LAG BEHIND CHINA AND GERMANY

Electric vehicle sales are expected to hit a record 9% of all passenger vehicles in the U.S. this year, according to Atlas Public Policy. That will be up from 7.3% of new car sales in 2022.

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It will be the first time more than 1 million EVs are sold in the U.S. in one calendar year, probably reaching between 1.3 million and 1.4 million cars, the research firm predicts.

Although the numbers show significant progress for electrification, the nation is lagging behind countries like China, Germany and Norway.

EVs reached 33% of sales in China, 35% in Germany, and 90% in Norway for the first six months of 2023, according to a BloombergNEF EV outlook published in June. These figures include both battery electric vehicles and plugin hybrid EVs.

In those countries, ambitious government zero-emissions targets, vehicle tax incentives and subsidies, and affordable options play a role in a consumer’s decision to adopt a plug-in vehicle.

Several factors helped boost U.S. EV adoption this year, but in a word, prices have gone down.