Sales of Electric Vehicles in the US Are Accelerating

To date, over three million electric vehicles have been sold in the United States. That’s a figure worth keeping an eye on, but that number doesn’t tell the whole story. As an insightful report from Bloomberg observes, that figure itself is notable, but what’s more noteworthy is the pace at which the EVs in question have sold.

Bloomberg‘s Tom Randall notes that the first million electric vehicles sold in the U.S. were sold over the span of 10 years. Reaching two million took two more years; reaching three million took a little over a year. Bloomberg‘s analysis reveals that, in the 12 months that came to an end in June 2023, almost one million electric vehicles were sold in the United States, suggesting that EV sales will soon reach the landmark amount of one million per year.

The vast majority of new cars sold remain gasoline-powered, but EVs’ share is growing, and recently reached a full seven percent of the U.S. market. That’s a good sign for automakers, environmentalists and anyone else with a stake in having a larger share of new cars on the road be electric.

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The outlet devised a new rating system for EVs based on eco-friendliness

As for which electric cars people are buying, Bloomberg‘s analysis has some revealing answers there: Tesla accounts for 61% of all EVs ever sold in the United States.

This doesn’t mean that the future of electric vehicles is guaranteed; charging infrastructure and its distribution across the country remains a going concern. But as the pace of electric vehicle sales ticks upwards, that should incentivize larger investments in this moving forward.