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Plug In Drivers Not Missin' the Piston

This is the Kodak Moment for the Auto Industry. Electric vehicles are here to stay. Their market acceptance and growth will continue....

Wednesday, June 6, 2018

1 Million EVs on US Roads Will Happen This Year!

As I write this, there are about 850,000 plug-in vehicles on US roadways. The month of May added about 25,000 of these. Assuming similar sales going forward, the 1 million mark would be hit around the end of the year.

Plug-in sales will likely be better than simply linear over the remainder of the year. EV sales are growing. March of this year had 42% more sales than March of last year. Similarly, April had 47% year-over-year growth and May had 48%. This is exceptional year-over-year growth.

New plug-in cars from nearly all makers are coming out and Tesla is ramping Model 3 manufacturing as fast as they can. With a long list of people waiting for these cars, demand will not be a problem in time into the foreseeable future.

US PEV Sales Actuals & Trend - Actuals data from InsideEVs.com

This is surprisingly in-line with the 2016 prediction we made here.

January 2016 Prediction of US PEV Sales

You can expect to see articles about "2018 To Be The Year of 1 Million EVs on US Roadways" starting to show up in the media in a few months when the trend becomes more assured to occur this year, but you can always say that you saw it here first (in 2016).

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