Electric Vehicles Lose Market Share in the U.S. as Sales Decline

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 18 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 68%

EV News

Electric Vehicles,Sales,Automobiles

The US electric vehicle market share dipped for the first time since the pandemic, raising concerns about slowing consumer adoption despite a bullish global outlook.

Hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles made up 18% of all new light-duty vehicle sales in the first quarter of 2024, down from an 18.8% share in the fourth quarter of 2023. Battery electric vehicle BEV sales fell for the first time since the onset of Covid in 2020, the Energy Information Administration EIA said on Tuesday, citing estimates from Wards Intelligence.

automakers, however, have been flagging a slowdown in consumer uptake of EVs since the end of last year. Last month, Ford Motor Company said it is delaying the planned rollout of some of its next-generation electric vehicles as it is expanding hybrid vehicle offerings, in the latest sign that consumer uptake of EVs has slowed down.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Major car rental company selling off 10,000 EVs to buy petrol motors instead… amid £155m losses...Hertz selling 20k electric vehicles to buy gas cars as company faces $245m loss
Source: TheSun - 🏆 64. / 61 Read more »