Monthly U.S. EV Sales

Consumers Preferring Hybrids

Highlights:

  • Much has been about the slowdown in EV sales in recent months and while battery electric vehicle sales have slowed, hybrid electric vehicle sales remain strong indicating consumers are still not charged up about battery power as a sole vehicle source

  • Indeed on both a nominal and growth basis, HEV sales are outpacing BEV sales, with HEV sales in the U.S. posting the highest month on record at 138,118 vehicles, 40% higher than BEV sales

  • May-to-June typically sees a seasonal pickup in EV sales, but with tougher comparable sales, there is a real risk BEV sales are down in June 2024 versus last year

  • Trailing 12-month year-over-year growth of BEVs is at the lowest level since March 2021

  • Total EV sales were 18.4% of LDV sales in May

  • On a trailing-12 month basis, total EV sales were 18.0% of LDV sales, the highest on record

  • Battery Electric Vehicle (BEV) sales were 98,797, up 5.6% vs last month and up 6.4% compared with last year

  • Plug-in-Hybrid Electric Vehicle (PHEV) sales were 26,124, down -1.3% vs last month and up 3.9% compared with last year

  • Hybrid Electric Vehicle (HEV) sales were 138,118, up 16.6% vs last month and up 33.0% compared with last year

  • Electric Vehicle (EV) sales were 263,039, up 10.3% vs last month and up 18.6% compared with last year

  • Internal Combustion Engine (ICE) sales were 1,165,989, up 8.5% vs last month and up 2.2% compared with last year

  • Light-Duty Vehicle (LDV) sales were 1,429,028, up 8.8% vs last month and up 4.9% compared with last year

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