Pure EV Sales at All-Time Record in US

Ken Zino of AutoInformed.com on Pure EV Sales at All-Time Record in US

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Sales of zero emission vehicles (BEV, PHEV, & Fuel Cell) accounted for 5.8% of total vehicle sales in April 2022 (71,714 units), up 2.8 pp from a year ago and down 0.1 pp from March 2022. Sales of battery electric vehicles led the way for ZEVs, accounting for 4.52% of total sales, up 2.4 pp from March 2021.*

Pure EV Sales at All-Time Record in US, whose transaction prices are close to a $70,000 making them a new category – Luxury Clean – in AutoInformed’s view. Republicans, with a long history of backing from Big Oil, continue to block the Biden Administration’s Build Back Better plan that addresses drastic climate change and prepares the way for a cleaner future.

Plug-in hybrids accounted for 1.31%, 0.44 pp higher than the same time last year. Sales of zero emission vehicles (BEV, PHEV, & Fuel Cell) accounted for 5.8% of total vehicle sales in April 2022 (71,714 units), up 2.8 pp from a year ago and down 0.1 pp from March 2022. Plug-in hybrids accounted for 1.31%, 0.44 pp higher than the same time last year, according to data compiled by the Alliance for Automotive Innovation, aka Automotive Innovators.

In a larger context, North American vehicle production in April outperformed projections, finishing 10,000 units above forecasts. Production totals, including medium and heavy-duty trucks, totaled 1.188 million units, an 8.0% increase year-over-year, and the first monthly increase since May 2021.

However, US light vehicle production for April 2022 decreased month-over-month by 15.9%, totaling 769,413 vehicles (141,969 cars, 627,444 light trucks); year-over-year, production is up 8.5% percent from 2021.

With the entire auto industry supporting more than 10 million jobs and contributing 5% to the nation’s GDP, now more than ever that the Federal Reserve is raising interests rates in the hope that a deep recession will stop inflation despite the human misery this will cause, the economy’s health and rebound will depend on the strength of this sector.

*Data courtesy Ward’s Intelligence

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