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Friday, 28 January 2022 09:09

Electric Vehicle Sales Hit New Record in Fourth Quarter of 2021

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Despite industry-wide inventory constraints and overall slow new-car sales growth throughout the year, sales of battery-powered electric vehicles (EVs) surged to hit a new record with a strong year-end finish in Q4 2021, according to a new report from Kelley Blue Book.

In the fourth quarter, EV sales jumped 72% year-over-year to a record 147,799 units. EV market share in Q4 was 4.5%, also a record high for the segment.  

 

Electric vehicle popularity continues to grow---nearly half a million buyers bought an EV in 2021---and the number of pure EV choices continues to improve. There were 25 different EV models sold in Q4 2021, and several new nameplates are on the horizon for 2022.

 

In all, nearly 1.5 million electrified vehicles---the combined total of EVs, hybrids and plug-in hybrids---were sold in the U.S. last year. Electrified vehicle sales accounted for 9.7% of all sales in 2021, and in the fourth quarter 11.8% of sales were electrified.

 

Yet sales might have increased even more last year if inventory and supply issues had not been as problematic. For example, battery and production troubles all but eliminated Chevrolet Bolt and Bolt EUV sales Bolt and Bolt EUV sales in the second half of the year, and hybrid-leader Toyota struggled with inventory throughout much of the fourth quarter.

 

"There is no doubt we are in the electrified-vehicle decade, and our Cox Automotive experts forecast even further growth of electrified vehicles in the years ahead," said Matt Degen, editor for Kelley Blue Book. "The automotive marketplace continues to evolve and diversify more with each passing year. Hybrids are now mainstream products, and more than a dozen new EVs are slated to launch in 2022---including...


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