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 report, the year-over-year development fee improved in comparison with Q1, and we will 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 autos—36% greater than a 12 months in the past. For this group, it is the best quarterly outcome ever recorded, and that does not even embody a number of promising new EV manufacturers like Rivian.
Additionally it is essential to notice that this knowledge appears at non-Tesla EV gross sales; you could find that firm’s newest outcomes right here.
Non-Tesla EV gross sales expands
The 12 months 2024 is predicted to deliver a noticeable enhance in non-Tesla all-electric automobile 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, Common 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 leads to the U.S. particularly, particularly the newer firms like Tesla, Rivian, Polestar, Lucid, Fisker and VinFast. They don’t escape 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 as a consequence of an absence of official gross sales knowledge. Moreover, assuming that Tesla represents roughly half of all EV gross sales within the U.S. (doubtlessly over 160,000, however lower than in Q2 2023) we will estimate that the U.S. whole EV gross sales in Q2 exceeded 300,000.
EV Gross sales By Manufacturers, Q2 2024
Relating to uncooked quantity, Ford stays the highest non-Tesla EV model, with 23,957 bought in Q2, up 61% from a 12 months in the past. Subsequent is Kia with 17,980 models and a large development fee of 131% year-over-year, adopted by Hyundai with greater than 15,000 models. These embody 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 probably Rivian as nicely. (Globally, Rivian gross sales are estimated to be near 14,000 models in Q2.) Nonetheless, 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 dearth of the Bolt EV and Bolt EUV have damage its whole quantity.
One of the vital attention-grabbing issues in Q2 is the leap of the Toyota model, which bought 7,571 models in Q2 (up 286%) and located itself within the prime 10 non-Tesla record, forward of Nissan and Volkswagen. Is it an indication of awakening or only a short-term surge, fueled by lease incentives? Time will inform. An excellent larger 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 record. EV gross sales had been additionally restarted by Fiat, however we’re not totally positive about its preliminary numbers (as much as 163 models) so it is not but included.
Because the market matures, we will see steadily rising quantity and extra manufacturers becoming a member of the get together. Extra ones ought to seem within the chart within the subsequent quarters. It’s going to disclose 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 turn into 100% electrical sometime.
The record of manufacturers contains solely conventional ones, for which knowledge is accessible. Manufacturers that promote solely all-electric automobiles 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 12 months in the past). This manner, 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 up to now.
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 report in Q2. That is one other attention-grabbing 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 report 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 not 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 12 months in the past), whereas Chevrolet remains to be lagging at 2.5% (in comparison with 3.1% a 12 months in the past and virtually 5% at its report time of Q1 2023.) Porsche in all probability famous one of many highest decreases in EV share to simply 3.8% (from 8.7% a 12 months in the past), nevertheless it is likely to be short-term as a result of 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 fascinated with seeing extra detailed gross sales outcomes for the person manufacturers, please examine our earlier experiences:
