While new car vehicle sales declined in Q3 2021, primarily due to a lack of inventory, electric-powered vehicle sales still grew rapidly, according to a recent article in Auto Connected Car News. The article, written by Bryan Jonston, states that while new car sales experienced a drop of 13.4%, sales of electrified vehicles jumped 60%! One of ten of new vehicles sold in Q3 2021 were electric or hybrid vehicles.
“The exponential growth of electrified vehicle sales in the U.S. is a combined result of more product availability and wider consumer acceptance” Matt DeLorenzo, Sr Managing Editor for Kelly Blue Book was quoted in the article.
Tesla and Toyota are the two major players in the electrified vehicle market. Through Q3 of this year, Toyota/Lexus sole almost on quarter of all their vehicles as electric, while Tesla, obviously has a 100% electric car penetration.
Tesla’s Model 3 and Model Y are the dominant players. Tesla captured 70% of the EV market in Q3, and accounts for 40% of all electric vehicle sales.
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