Electric vehicle growth in the US slows down

Carscoops reported that US automakers sold 268,909 electric vehicles (EVs) in the first quarter of 2024 in the United States. While this represents a 2.6% increase over the same period in 2023, it marks a significant slowdown in the growth rate of EVs in recent years.

In the previous period, electric vehicle sales always grew dramatically compared to the same quarters of the previous year, specifically in the first quarter of 2022, the growth rate reached 81.2%, this figure decreased to 46.4% in the first quarter of 2023.

However, the first quarter of 2024 saw a much more modest increase of only 2.6%. Compared to the fourth quarter of 2023, sales in the first quarter of 2024 decreased by 15.2%.

Tesla is the car company that has impacted the growth rate of electric vehicle sales in the US market.

The data suggests that the growth potential for electric vehicle sales in the US market is slowing, although overall sales are still higher than last year.

Much of the blame for the slowdown can be attributed to Tesla, which saw its sales decline by more than 13.3% in the first quarter of 2024 compared to the same period last year, according to data from Cox Automotive. Tesla has historically posted double-digit growth.

Vinfast has a sales growth of more than 50% in the first quarter of 2024 compared to the same period last year in the US.

“As expected, Tesla’s sales decline weighed on overall market momentum,” said Stephanie Valdez Streaty, director of Cox Automotive. “However, some brands saw significant increases in EV sales, with sales up more than 50% year-over-year.”

A total of nine manufacturers recorded more than 50% growth in electric vehicle sales in the first quarter of 2024, including: BMW, Cadillac, Ford, Hyundai, Kia, Lexus, Mercedes, Rivian and Vinfast.

Source: https://xe.baogiaothong.vn/toc-do-tang-truong-xe-dien-tai-my-cham-lai-192240421173721447.htm