Americans bought 9% more electric vehicles (EVs) in the second quarter of 2024 than during the same period a year ago, according to a major auto industry trade group. They bought 3.8% fewer gas-powered cars.
The numbers come from the Alliance for Automotive Innovation, a trade group representing automakers and parts suppliers. It reports data slower than Kelley Blue Book parent company Cox Automotive, which just updated its own third-quarter EV sales figures. However, the conclusions from the two sources follow essentially the same track.
The Alliance reports, “More than 730,000 EVs were sold in the first half of 2024, 9.7% of all light vehicle sales” in the U.S.
Traditional internal combustion engine (ICE) sales, the group says, have “steadily declined” since 2016. “In 2016, ICE vehicles comprised more than 97% of all vehicle sales. Through the second quarter of 2024, the year-to-date ICE share dropped to 78%.”
Most of the loss came from buyers switching to hybrids (which gained 10.3% market share during that time). Plug-in hybrids (PHEVs) gained another 1.7%.
EV sales have picked up as manufacturers introduce more electric SUVs. Midsize SUVs are the fastest-selling segment of new cars in America, followed closely by compact SUVs.
“Passenger cars once dominated the EV market,” the group notes. But electric SUVs like the Tesla Model Y, Ford Mustang Mach-E, and Hyundai Ioniq 5 have become top-sellers.
Shoppers consistently say that limited public charging infrastructure holds many back from considering an EV. The Alliance notes, “The number of public Level 2 chargers increased 10% at the end of the second quarter of 2024 over 2023.”
