General Motors And Ford Are Playing Catch-Up In EV Market Boom

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In the first half of 2023, ten predominantly blue states saw electric vehicle sales make up 10% or more of new car sales, with California leading at 25%.

A new report from BloombergNEF reveals the ten states with electric vehicle sales at or above 10% of all new passenger car sales in the first half of 2023. All states that meet the threshold are some of the country's bluest' states that also support aggressive 'green' policies. In Washington, Oregon, Hawaii, Nevada, Colorado, New Jersey, Massachusetts, Maryland, and Virginia, one in every ten new cars sold in the first six months of the year was electric.

Competitors like General Motors, Ford, Rivian, or Hyundai must still scale up to take full advantage of these growing state markets,' BloombergNEF wrote in the report. On Monday, Tesla released its production and delivery numbers for the third quarter, stating it delivered 435,059 vehicles and produced 430,488 vehicles, missing consensus delivery estimates of 456,722, according to Bloomberg.

 

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