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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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