Electric vehicle sales have reached an all-time high in the U.S. automotive market. For years, consumers have been slow to accept this new form of transportation. But as current times have shown, the switch from combustion engines to battery-powered electric vehicles (BEVs) is almost inevitable. A market plagued by high fuel costs and inventory shortages has swayed a number of consumers to give electric mobility a shot this year. Admittedly, there’s no better time than the present to invest in a used EV model.
Let’s break down the latest success in BEV sales and what this data suggests for future outlooks. Perhaps, an all-electric world really is attainable.
What’s the outlook for electric vehicle sales?
According to a recent report by Automotive News, it’s estimated some 158,689 battery electric vehicles were registered in the states within the first quarter of 2022. This number accounts for both new and used ownership, which is up more than 60% from last year. The increase in registration during the first quarter of 2022 demonstrates the rising interest in electric transportation. What was once an unattainable concept for the average driver in America, has now become more within reach. Today, you can find several gently used electric vehicles for prices well below the national average of a new vehicle.
Tesla’s impact on electric vehicle sales
It’d be difficult to credit the latest spike in EV ownership without Tesla. The American automaker has undoubtedly changed the way we view electric production over the last decade. Musk and his team of visionaries have worked vigilantly to make electric mobility achievable for all types of drivers. And now, that vision is coming to life. Consumers can find used Tesla models for as low as $27,000-$40,000 on select used car sites and dealership locations. What’s more, Tesla purchases continue to dominate U.S. electric vehicle sales each quarter. It’s safe to say that Tesla pioneered a slow, but steady movement here in the U.S.
What’s in store for the future?
This data confirms what all automakers now believe: electric is the future. The more consumers become accustomed to the idea of driving a BEV, the more electric vehicle sales will continue to rise globally. For the U.S., the 60% increase is a major victory. Since production shortages and events in Ukraine have impacted gas costs, the switch to electric vehicles has become more of a priority.
Image source: eia.gov
In addition, the number of hybrid, electric, and plug-in hybrids are increasing by the numbers as automakers progress to all-electric future. Ford, for example, has made several claims that their lineup will be entirely electric by 2030. These claims were once mocked by controversy. But as of lately, current outlooks are pushing us one step closer to an automotive world without combustion engines. Ford’s release of the Mach-e has finally revved up the competition for Tesla.
Share your opinion
Are you ready for an all-electric future? Does the rise in EV registration shock you? Comment below and shed some feedback on this matter. We’d love to hear from you! To continue reading, check out some other important events happening within the automotive community: