Inside EV’s has released multiple figures illustrating the current trends in the plug in electric vehicle market, including the latest sales from the month of August, and the results are great! The electric car movement is still in full throttle, as the market continues to grow and sales increase.
The figure above shows that the amount of plug-in cars sold in the U.S has increased each year, and that some of the monthly 2018 sales are more than double the previous year’s. Furthermore, as 2018 goes on, there has been a huge increase in number of cars sold. The sales went from about 12.5k in January, up to about 26k in March. The market dropped a little in April, but then sales then shot up to over 35 thousand sales in August! 2018 sure has been a great year for electric vehicles.
There may be one model in particular to thank for this upward trend: The Tesla Model 3. As shown in the Figure below, the Tesla Model 3 sales took first place in August by a landslide. The Model 3 had more sales than the next three best selling plug-ins added together.
Sales for the Model 3 are increasing at an exponential rate while the sales for the other popular models continues to increase linearly. This makes sense considering it is the first Tesla that most people can afford. Unfortunately, with the increased popularity and opportunities to purchase Tesla vehicles, the manufacturer has officially reached their 200,000th sale, which means the significant tax incentive of $7,500 will soon phase out for Tesla customers, making the vehicles more expensive.
To see more figures from Inside EV’s monthly plug-in report, including market shares, US cumulative sales, and automaker’s cumulative sales, visit their web page here.
The electric vehicle market is moving forward at a substantial rate, and the data proves it. More and more electric cars are being sold, shaping America’s transportation system as we move towards a cleaner future.