In this article, we will analyze the market share of Electric Vehicles (EVs) in the USA for the full year of 2024 and the fourth quarter (Q4) of 2024. We will examine the EV share of all auto sales for specific auto brands, automotive groups, and alliances, as well as the share of the US EV market each brand has earned. Additionally, we will identify which auto brands have been selling the most EVs.
Surprisingly, Mercedes leads the share of electric sales at 12.3%, followed by Volkswagen at 11.5% and Volkswagen Group at 11.1%. Notably, the top five or six brands are all premium brands.
Going forward, we find that both Mercedes and Volkswagen stand out for their high share of electric sales relative to their total sales.
Examining the Q4 results, we notice that Mercedes saw a notable increase in EV share, climbing from 12.3% for the full year to 15.0% in the 4th quarter, while Ford also experienced a significant jump from 3.8% to 5.6%. Geely, on the other hand, fell from 8.3% for the year to 1.5% in the 4th quarter. Cadillac also showed growth, increasing from 6.2% for the year to 10.1% in the 4th quarter.
When we consider BEV market share, we find Tesla leading with 56.2% in the 4th quarter and 59.1% for the year 2023. Ford and Chevrolet also stand out as consequential mass manufacturers with significant market shares.
Finally, let’s take a look at the volume of US BEV sales by auto brand to get a clearer picture of the bigger players in the market.
There’s a lot of work to do in the US market, with few bright spots aside from Tesla’s massive leadership. What would we do without Tesla?
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