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The US electric vehicle (EV) market is not in a great place, but it did achieve greater sales in the second quarter than in the two previous quarters. Let’s look at how things broke out by different auto brands. (Buckle up. This is going to be a bumpy ride.)
First of all, after dropping below 50% of the US EV market for a while (far down from its peak of about 80% of the market), Tesla got its head back above 50% market share. That said, it’s not because Tesla sales grew — they just dropped less than most of the market.
Tesla sales were down 13% year over year. However, non-Tesla EV sales were down a whopping 27%. Yikes…. At the end of the day, Tesla accounted for 50.5% of US EV sales last quarter. What about other auto brands and auto groups? Let’s have a look at two charts and then I’ll get into percentages again. (Note that static versions of the charts. below are also included on the bottom of this article.
So, as far as brands go, behind Tesla we’ve got: Chevrolet (5.8% of the EV market), Hyundai (5.8%, but slightly less), Cadillac (5.1%), Toyota (4.8%), and Rivian (4.6%). What jumps out to me is that Chevrolet, Hyundai, and Toyota are mass-market brands — so you would expect/want a lot of sales from them. Cadillac’s placement in fourth is much more noteworthy, and Rivian’s spot in sixth is notable. When I get to looking at the share of an auto brand’s sales that are electric, I assume Cadillac’s going to be at the top again. (Of course, Tesla and Rivian are both 100% electric brands, so I’m not counting them.)
