US likely to cross 1 million in EV sales for the first time ever

The rising popularity of electric vehicles (EVs) is primarily being observed in the Chinese and European automotive markets but the United States is in the fast lane too. With the Joe Biden administration focusing on popularising battery-powered personal mobility options and an ever expanding support infrastructure here, the country is poised to see sales of EVs cross one million in 2023, a first in any calendar year.

In pole position is Tesla that has been ramping up its production and delivery capabilities. In September alone, the company delivered 59,000 units to customers in the US. Overall, around 1.36 lakh EVs were delivered in the month. This is around 11 per cent of overall vehicle sales in the month, in the US.

Going by the trend observed through the course of 2023 so far, business consultancy firm Atlas Public Policy predicts that around 1.4 million EVs may be sold in the US by the end of December. This would potentially mean that EVs would also account for around nine per cent of the overall new car sales in the country, a new high.

The average price premium of an EV model as against a comparable model with an internal combustion engine (ICE) in the US is around $3,800 or approximately ₹3.15 lakh. This is likely to sharing in the coming times but what has helped EVs already are decisions by manufacturers like Tesla to cut prices of their EV models. Enhanced production capabilities has also ensured more units available at dealer lots which often also result in better deals and offers, prompting interested customers to take the dive and sign on the dotted line.

At present, China is not only the world's largest vehicle market but also the largest EV market. EVs here account for around 26 per cent of overall new car sales. Closer home, in India, EVs so far only account for a little over 2 per cent of all new car sales.

Check out Upcoming EV Cars in India, Upcoming EV Bikes in India.