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Electric Vehicle Sales and Market Share (US – Q2 2024 Updates)

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Key Takeaways

Q2 2024 Update: Sales and market share numbers are in. See the latest U.S. EV market share numbers below.

As electric cars, trucks and SUVs continue to enter the mainstream in 2024, the tug-of-war between EV startups and legacy giants is heating up. Will Tesla hold its lead, or will Ford, General Motors and the rest catch up? Bookmark this page for the latest quarterly and monthly sales and market share updates for electric vehicles in the United States.

Also: These EVs have the most and least inventory this month

Q2 2024 Electric Vehicle Market Share and Sales (U.S.)

As automaker stats trickle in, here are some notable numbers announced so far:

  • Fully-electric vehicles (BEVs) had 8.0% market share in Q2 2024.
  • U.S. electric vehicle sales in Q2 2024 totaled 330,463 (up 22.9% from Q1 2024, and up 11.3% year-over-year)
  • Cox Automotive’s Kelley Blue Book estimates that Tesla’s US sales totaled 164,264 in Q2 2024. This is down 6.3% from a year earlier.
  • Tesla’s share of the EV market fell to 49.7%. This is the first time Tesla’s U.S. EV market share has fallen below 50%. The figure is down significantly from 60% in Q1 2023, and 79% of U.S. EV market share in 2020.
  • Ford sold 23,957 electric vehicles in Q2 2024, an 61.4% increase year-over-year. General Motors sold 21,930 fully-electric vehicles in the quarter as Blazer and Equinox EV sales gained momentum.
  • Hyundai Motor Company and Kia have surpassed Ford, selling 37,044 EVs across the Hyundai, Kia, and Genesis brands. Hyundai owns a majority stake in Kia.

In the first quarter of 2024, fully-electric vehicles (BEVs) climbed to 8.0% of new car sales in the United States, just shy of Q4 2023’s record of 8.1%. Of the 4.13 million light-duty vehicles sold in America in Q2 2024, 330,463 were fully-electric, according to data from Kelley Blue Book.

EV sales in Q2 2024 increased 22.9% from Q1 2024, and were up 11.3% year-over-year. In the first half of 2024 (H1 2024), U.S. electric vehicle sales totaled 599,372 cars, which is 7.3% higher than H1 2023.

Take a look at the growth in EV market share from 2022 through 2024:

Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024
Battery Electric Vehicles (BEV)5.3%5.6%6.1%6.5%7.3%7.2%7.9%8.1%7.3%8.0%
Electrified (Hybrid + PHEV + BEV)12.4%12.6%12.1%13.0%14.5%16.0%17.7%16.0%TBDTBD

According to analyses by Cox Automotive, Tesla sales accounted for 55% of all EVs sold in the US in 2023, down from 62% in 2022. At the start of the year in Q1 2022, Tesla had a 75% EV market share in America. In Q2 2024, Tesla is down to 49.7% of EV market share in America. Tesla remains the dominant player in an increasingly crowded field.

AutomakerQ1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024
Tesla129,743130,047114,000131,574161,630175,262156,621161,375140,187164,264
Ford Motor Company6,73415,27318,25720,33910,86614,84320,96225,93720,22323,957
General Motors4577,21715,15616,15020,67015,65220,05719,46916,16921,930
Nissan4,3713,2511,2763,3085,2144,2156,0745,1135,2847,128
Volkswagen Group7,9328,96111,89315,19315,72313,97720,29520,40313,80611,904
Hyundai Group (incl. Kia)15,48017,9799,7969,64114,34621,69630,75725,44722,93637,044
Subaru0009191,3591,6132,7913,1091,1474,238
Toyota Motor N.A.002409851,8402,8934,2215,7183,50011,607
Mercedes-Benz2,0911,9592,7175,6565,0539,02910,42310,76712,2509,270
Mazda000324155134000
BMW1,1711,0824,3377,0996,58511,99013,59415,36411,45514,081
Jaguar0114029888086782561,188
Stellantis0000000000
Volvo-Polestar3,0924,5183,5105,6165,2287,6087,7976,5313,2792,285
Rivian1,2274,4676,5848,0547,94612,64015,56413,55313,58813,790
Lucid4604821,3981,0601,3681,6591,6181,5121,9671,855
Vinfast----1107401,1591,1209271,225
Fisker------9971,6721,6602,127
TOTAL US EV sales173,561196,788188,924226,789258,882295,355313,086317,168268,909330,463

Data source: Cox Automotive

Ford, GM, and Hyundai Motor Group continue to fight for second place. Hyundai and Kia EV sales have soared in 2024, much to the success of the IONIQ 5 and all-new Kia EV9. Ford’s EV sales slipped in early 2023, and were overtaken by GM somewhat unexpectedly. In early 2024, Ford came roaring back with healthy sales of the F-150 Lightning and Mustang Mach-E, spurred by huge manufacturer incentives.

% EV Market Share By Brand (U.S.)

AutomakerQ1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024
Tesla*74.866.160.358.062.459.350.050.952.149.7
Ford4.47.89.79.04.25.06.78.27.57.2
General Motors0.33.78.07.28.05.36.16.16.06.6
Nissan2.51.70.71.52.01.41.91.62.02.2
Volkswagen Group4.64.66.36.76.14.86.56.45.13.6
Hyundai Motor Group (incl. Kia)8.99.15.24.35.67.39.98.08.511.2
Mercedes-Benz1.21.01.42.52.03.13.33.44.62.8
Mazda0.10.10.00.00.00.00.00.00.00.0
Toyota Motor N.A.0.00.00.00.40.71.01.31.81.33.5
Subaru0.00.00.00.40.50.50.91.00.41.3
BMW0.70.52.33.12.53.94.24.84.34.3
Stellantis0.00.00.00.00.00.00.00.00.00.0
Jaguar0.10.10.00.00.00.00.00.00.00.4
Rivian0.72.33.53.13.14.35.04.35.14.2
Lucid0.30.20.70.50.50.60.50.50.70.6
Vinfast0.00.00.00.00.00.30.40.40.30.3
Volvo/Polestar1.92.31.91.62.02.62.52.11.20.7

Data source: Cox Automotive

Historical Data

In 2023, 7.3% of all new car sales in America were fully-electric. In 2022, 5.8% of the new cars Americans bought were fully electric, up from 3.2% in 2021.

According to EIA.gov, Combined sales of hybrid vehicles, plug-in hybrids, and battery electric vehicles in the United States rose to 16.3% of total new light-duty vehicle sales in 2023. In 2022, hybrid, plug-in hybrid, and BEV sales were 12.9% of total sales.

Electric vehicle market share over time 2010 - 2024

Electrified powertrains continue to see rapid growth, despite less growth in the electric-only segment.

Check back for the latest data once Q3 2024 numbers are released. Additional data and insights will be added to this ‘living’ page.

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Last updated Aug 28, 2024

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