EV Sales Hit All-Time High in Q3
Oct. 28, 2021—Even as new vehicle sales decline amid the ongoing semiconductor shortage, EVs saw their single-best quarter ever in terms of units sold.
According to a report from Kelley Blue Book, EV sales jumped nearly 60 percent in Q3 2021 from the same time last year. U.S. automakers sold more than one million EVs through Sept. 30, accounting for 10.4 percent of all new vehicles sold in the U.S. through the third quarter.
"The exponential growth of electrified vehicle sales in the U.S. is a combined result of more product availability and wider consumer acceptance," said Matt DeLorenzo, senior managing editor for Kelley Blue Book. "We are seeing the investments in this technology beginning to pay off with greater growth in EV volume. This pace will continue to increase as consumers find more choices in both pure electric and plug-in hybrid vehicles. Even as the auto industry faces challenges in chip shortages, limited production and inventories, and higher prices, the growing demand for electric vehicles is a significant development."
Sales of fully electric vehicles increased by 51.3 percent according to the report, while hybrid and plug-in hybrid sales grew by 62.2 percent.