US Post-Covid Light Vehicle Sales Rebound in 2022

EVs With Comparably Short Range, Still Have A Long Way To Go in the United States! 

The US automotive market has seen significant growth in the adoption of alternative powertrain technologies over the past decade. Hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fully electric vehicles (EVs) have become increasingly popular as consumers seek more fuel-efficient and environmentally friendly options.

According to data from the Electric Drive Transportation Association, the US EV market experienced a 139% increase in sales in 2021 compared to the previous year, with over 400,000 units sold. HEVs and PHEVs also saw growth in sales, with a 38% increase compared to 2020.

In terms of market share, EVs accounted for approximately 2% of all new vehicle sales in the US in 2021. HEVs and PHEVs combined accounted for approximately 4% of new vehicle sales, showing that hybrid technology continues to be popular with US consumers.

The US government has also played a role in promoting the adoption of alternative powertrain technologies. The federal government offers tax credits for the purchase of new EVs and HEVs, and many states offer additional incentives such as rebates and exemptions from sales tax.

As for the future of the US car market, it is expected that the adoption of alternative powertrain technologies will continue to grow. According to a report by BloombergNEF, EVs are expected to represent 10% of all new vehicle sales in the US by 2025, and 28% by 2030.

Overall, the US market for cars is experiencing a shift towards alternative powertrain technologies, with EVs, HEVs, and PHEVs gaining popularity among US consumers. With government incentives and increasing environmental concerns, it is likely that this trend will continue in the coming years.