U.S. EV Sales Surge in June, Outpacing Overall Auto Market Growth: Report

Electric vehicle (EV) sales in the U.S. surged in June, growing faster than the overall automotive market, according to S&P Global Mobility. New EV registrations increased by 3.1% year over year, while the broader market experienced an 8.8% decline.

U.S. EV Sales Outpaced the Broader Auto Market in June, Boosted by Strong Consumer Incentives

Electric vehicle (EV) sales have recently increased in the United States and other countries. According to registration data from S&P Global Mobility, EV sales growth exceeded that of the overall automotive market in June.

The data indicates EV sales were up in the year's first half, and the technology outpaced the broader market in June. This was primarily due to the large incentive programs that reduced the cost of EVs for consumers (via, Automotive News). S&P Global Mobility reported on August 16 that the market experienced an 8.8 percent decline to slightly over 1.2 million units. New EV registrations increased by 3.1 percent year over year in June, with 108,026 vehicles registered.

"The June month numbers were good for EVs," said S&P Global Mobility Analyst Kent Chiu. "But behind them were pretty strong incentives as a motivator."

As a result, the EV market share increased to 8.9 percent in June, which is 1% higher than last year. Additionally, the data comprises new battery-electric vehicle (BEV) registrations instead of gas-powered hybrid cars or used vehicles.

The brand with the highest number of registrations was Tesla, which outsold its closest competitor, Ford, by nearly tenfold. The Cybertruck, which has also been the top-selling vehicle over $100,000 for the past two months, also contributed to Tesla's June sales.

"As more EVs come to market and occupy segments that match internal-combustion vehicles, there will be more consumers that switch over to the EV space," Chiu added.

Tesla Leads June EV Registrations as Kia, Cadillac, and Nissan Show Impressive Year-Over-Year Growth

Additional three-row crossover EVs to compete with the Kia EV9 are among the examples that Chiu emphasized.

Teslarati reports the top 10 brands for electric vehicle registrations in June, as well as the year-over-year growth in sales:

1. Tesla: 60,929 units (-2.4 percent year over year)

2. Ford: 6,298 units (18.2 percent year over year)

3. Kia: 5,194 units (105.9 percent year over year)

4. Rivian: 4,982 (8.3 percent year over year)

5. Hyundai: 4,852 (-3.4 percent year over year)

6. Chevrolet: 3,721 (-30.6 percent year over year)

7. BMW: 3,449 (3 percent year over year)

8. Nissan: 2,379 (80.1 percent year over year)

9. Cadillac: 2,182 (403.9 percent year over year)

10. Mercedes-Benz: 1,903 (-43.3 percent year over year)