ATLANTA, April 19, 2021 /PRNewswire/ -- According to an
analysis of the U.S. auto market by Cox Automotive and Kelley Blue Book, sales growth of both electric
and hybrid vehicles outpaced overall market performance in the
first quarter of 2021. Electrified vehicles – automobiles featuring
large battery packs and electric motors in the propulsion system –
accounted for 7.8% of the total U.S. market, up from 4.8% in Q1
2020.
Cox Automotive and Kelley Blue Book
analysis shows Q1 sales growth of electric and hybrid vehicles
outpaced the market.
Electrified vehicle sales growth of 81% far outpaced industry
growth. Sales of electric vehicles (EVs) – battery only – grew by
44.8% year over year, reaching nearly 100,000 sales in the quarter,
a record. Sales of hybrid vehicles outpaced both the market and
EVs, doubling to more than 200,000 in the quarter. The overall
automobile market increased by 11.4% in Q1.
|
Q1
2021
|
Q1
2020
|
Y-O-Y
Increase
|
EVs
|
98,832
|
68,247
|
44.82%
|
HEVs /
PHEVs
|
204,921
|
99,719
|
105.50%
|
Total
Electrified
|
303,753
|
167,966
|
80.84%
|
Total Market
|
3,907,738
|
3,509,299
|
11.35%
|
Total %
Electrified
|
7.77%
|
4.79%
|
62.40%
|
The EV market continues to be dominated by Tesla, which sold an
estimated 69,300 vehicles in Q1 and remains the only significant
automaker in the U.S. with an EV-only lineup. Tesla accounted for
71% of total EV sales in the quarter, down from 83% share in Q1
2020.
The new Tesla Model Y is the best-selling EV in the U.S.,
followed by the Tesla Model 3. The Model 3 was the No. 1
best-selling EV in 2020, but sales in the U.S. market declined by
more than 50% year over year in the first quarter of 2021. The
Chevrolet Bolt was No. 3 on the EV list, with nearly 10,000 sales
in the quarter. The all-new Ford Mustang Mach-E, which went on sale
in December, was No. 4, outselling both the Tesla Model S and Model
X.
While sales of EVs are increasing, hybrid sales are increasing
more quickly, according to the Cox Automotive analysis. Sales of
hybrid and plug-in hybrid vehicles jumped by 106% in Q1. Toyota, a
hybrid pioneer, delivered most of that growth, selling 124,449
electrified vehicles in Q1, up from 49,576 in Q1 2020. Nearly 25%
of new Toyota vehicles are now hybrids. The Toyota RAV4 Hybrid is
now the best-selling hybrid in the U.S., with sales of 32,263
vehicles in the first quarter. The new Toyota Sienna minivan, which
is available exclusively as a hybrid, is No. 2 with sales of
26,044.
In all, there are more than 60 different hybrid or plug-in
hybrid vehicles now available in the U.S. Honda is the No.2 hybrid
maker, with more than 22,000 hybrids sold in Q1. Honda's
electrified tally was 7.1% of its total Q1 sales volume, up from
3.5% in Q1 2020. Ford is the No. 3 player with more than 18,000
hybrids sold, including 7,176 F-Series pickups. Volvo sold more
than 2,800 electrified vehicles in the first quarter, accounting
for 11.5% of the brand's total sales in Q1.
"Electrified vehicle growth in the U.S. and around the world is
shining a spotlight on battery development and sourcing," said Cox
Automotive Executive Analyst Michelle
Krebs. "As the industry builds more vehicles with battery
packs, sourcing of these parts and lifetime management of the
battery cells is a critical hurdle the industry must clear."
For more information:
Electrified Vehicle Growth Energized in Q1
10 Takeaways from U.S. Auto Sales: Q1 2021
About Cox Automotive
Cox Automotive Inc. makes buying,
selling, owning and using vehicles easier for everyone. The global
company's more than 27,000 team members and family of brands,
including Autotrader®, Clutch Technologies,
Dealer.com®, Dealertrack®, Kelley Blue Book®,
Manheim®, NextGear Capital®,
VinSolutions®, vAuto® and
Xtime®, are passionate about helping
millions of car shoppers, 40,000 auto dealer clients across five
continents and many others throughout the automotive industry
thrive for generations to come. Cox Automotive is a subsidiary of
Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of
nearly $20 billion. www.coxautoinc.com
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SOURCE Cox Automotive