Source: Gasgoo
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According to foreign media reports, so far this year, the cumulative sales of pure electric vehicles in the United States have exceeded the 1 million mark, which is the first time that the country’s electric vehicle sales have exceeded this threshold in a year.
A report released by the National Automobile Dealers Association (NADA) stated that in the first 11 months of 2023, the cumulative sales of pure electric vehicles in the country totaled 1,007,984 units, a year-on-year increase of 50.7%.
Albert Gore, executive director of the Zero Emission Transportation Association (ZETA), wrote in a statement, “Reaching one million pure electric vehicle sales in the U.S. in 2023 is a major milestone for the electric vehicle industry and an important step toward electrifying transportation. NADA’s data shows that consumer demand for electric vehicles is growing month over month, with electric vehicles steadily increasing their share of new vehicle sales from 6.4 % in January to 7.2 % in October of this year.”
Image source:NADA
Bloomberg New Energy Finance (BNEF) also recently released its annual Zero Emission Vehicle Profile Report, prepared especially for the COP28 conference in Dubai. The report notes that despite concerns that demand for electric vehicles is slowing, “the data does not support this view.”
In its report, BNEF states, “Global electric vehicle sales may be lower than some automakers expect, but in line with BNEF’s forecasts at the beginning of the year, most industries would be happy with such a growth rate. In the U.S. specifically, while concerns about demand for EVs are heating up, U.S. EV sales are actually getting faster, and will rise as much as 50% this year.”
BNEF also reports that the U.S. government’s Inflation Reduction Act (IRA) has attracted $103 billion in new investment. This includes the electric vehicle ($11.7bn) and battery ($72.4bn) production sectors, as well as other areas such as battery components ($9.8bn) and recycling ($3.5bn).
BNEF expects the first IRA-related electric vehicle and battery plants to open in the second half of 2024, with more to follow in 2025 and beyond.
