for Electric Vehicle Sales
Some of the largest automakers unveiled a slew of new commitments and spending plans to scale up their electric vehicle lineups at the start of the year.
National data shows 2018 EV sales are up 83 percent on 2017—but the realities facing the EV industry and oil's virtual monopoly on U.S. transportation fuels means the inflection point in transforming our transportation sector has yet to be reached.
The mix of support for domestic industrial policy and local infighting poses a threat to international automakers in China's market.
March was the strongest month ever for electric vehicle sales in the U.S., with more than 25,500 sold. The fact that record sales occurred during the first quarter, when they typically lag, is remarkable and bodes well for the entire year.
Despite the rise in EV sales in China, long-term trends of a rising population and a growing middle class will increase the country’s appetite for petroleum.
U.S. gasoline and other motor fuels spending increased throughout 2017, reflective of rising prices and continued high demand.
Toyota aims to sell 5.5 million electric vehicles per year by 2030 and invest $13 billion to reach this objective. The company’s long-term plan is another step in making EVs mainstream and laying a foundation for mass penetration in the future.
Given the costs of oil dependence, maintaining and reforming the EV tax credit is of strategic importance to the U.S. The tax credit has been vital in helping EVs gain traction in today’s competitive car market.
As more used electric vehicles become available and the price points remain enticing, consumers will continue to show interest in snapping up used EVs.
Coinciding with NDEW, SAFE’s Electrification Coalition is releasing a case study with the best practice recommendations developed through the Drive Electric Northern Colorado initiative.