Looking back on 2023, it’s clear that the year was not an unqualified success for electric vehicles. However, with growing sales, growing market share, and a positive outlook, there was a lot to celebrate for EV boosters, too.
Now that we have the full picture for the year that ended, it’s clear that the widely reported slowdown in EV sales is real. Although sales were up 40 percent year-over-year in the fourth quarter of 2023, in 2022 they were up 52 percent as compared to a year earlier — although the fourth-quarter of 2021 was still affected by pandemic restrictions.
Despite that, the quarter contributed to a full year sales tally of 1.2 million electric vehicles. That’s the best-ever sales performance for the segment, and means that the vehicle type accounted for 7.6 percent of the U.S. automotive market, which is another record.
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