Monday, 26 July 2021 16:11

Electrified Vehicle Sales Accelerate Significantly in Q2 2021: Kelley Blue Book


...release more electrified vehicles, whether hybrid versions of established nameplates or all-new electrified models. Car buyers are increasingly attracted to these options. The electrified market is currently dominated by hybrids and plug-ins, but automakers' future plans favor pure electric vehicles. The progress may be slow, but the path is set."


There are more EVs and hybrids available today than ever before, ready and waiting to appeal to a wide variety of car shoppers.


Consumers can't buy a new Toyota Sienna minivan without buying a hybrid, and hybrids now account for roughly 25% of Toyota's total volume. Hybrid off-roaders like the Jeep Wrangler 4xe satisfy the needs of the outdoorsy crew, and luxury seekers will find more plug-in hybrid models available in increasing volumes.


EV sales are charged up by new products like the Ford Mustang Mach-E and Volkswagen ID.4.


While Telsa is still the dominant force in the EV market, its notable market share lead continues to erode even as sales increase. Tesla's Model Y remains the best-selling EV on the market---one in three EVs sold is a Model Y---but as the months and quarters pass, Tesla represents a smaller piece of the growing electrified vehicle pie.


In Q2, Tesla's share of the EV segment in the U.S. stood at 64%, down from 71% in Q1 and 83% a year earlier.


"We believe battery-powered vehicles will be the dominant form of transportation in the future," said Lea Malloy, assistant vice president of research and development for Cox Automotive Mobility. "That day is still a long way off, but we're encouraged by the continual growth in interest in electrified vehicles. The current trajectory is an important wake-up call for the industry---we all need to be doing more to prepare for a future with more electrified vehicles."


Source: Kelley Blue Book


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