By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IQFineIQFineIQFine
Notification Show More
Font ResizerAa
  • Home
  • EV News
    EV News
    Welcome to the home of the latest industrial development in the field of Electric Mobility. We are committed to providing you cutting edge news, reports,…
    Show More
    Top News
    onewheel-electric-Skateboard-5
    Onewheel Unveils Premium Off-Road Electric Board for Adventure Seekers
    July 11, 2024
    Now Samsung “SmartThings” IoT Platform perform EV Connected Services For Hyundai Customers
    January 6, 2024
    2024-acura-zdx.4webp
    Acura ZXD Is A Mid-Size Luxury SUV Crossover By The Acura At $64,500
    March 11, 2024
    Latest News
    Kia’s PV5 Electric Van Goes Camper — First Look at the Ultimate EV Getaway Rig
    May 23, 2025
    Mazda Adds Sporty Twist to Its Affordable $20,000 EZ-6 Electric Sedan
    May 17, 2025
    BYD’s New Electric Kei Car: A Compact Contender in Japan’s Urban EV Market
    May 16, 2025
    Tesla Drops Cybertruck Range Extender, Promised Range Now Out of Reach
    May 8, 2025
  • Electric Cars
    Electric CarsShow More
    top 10 Electric Compact SUVs
    Top 10 Electric Compact SUVs 2025
    May 20, 2025
    Best Electric Midsize SUVs 2025
    Motortrend Best Electric Midsize SUVs 2025
    May 19, 2025
    Best Electric Luxury 3-Row SUVS
    Best Electric Luxury 3-Row SUVS
    May 18, 2025
    Mazda-sporty-EZ-6-EV
    Mazda Adds Sporty Twist to Its Affordable $20,000 EZ-6 Electric Sedan
    May 17, 2025
    BYDs-mini-EV-spotted-1 (1)
    BYD’s New Electric Kei Car: A Compact Contender in Japan’s Urban EV Market
    May 16, 2025
  • Electric Bikes
    Electric BikesShow More
    ONYX Motorbikes Returns with Limited Edition RCR LTD Electric Moped
    February 27, 2025
    Bosch Teases Major Electric Bike Battery Innovation: Big News Coming Soon
    January 6, 2025
    Segway Unveils Xafari and Xyber: A Bold Entry Into the US E-Bike Market
    December 9, 2024
    Talaria Unveils Sting MX5, a Budget-Friendly High-Speed Electric Dirt Bike
    September 1, 2024
    Can-Am Surprises Fans with Launch of Electric Naked and Dual-Sport Bikes
    August 26, 2024
  • Technology
    • Latest Innovation
    • Battery Guide
    • Tricky Tips
    TechnologyShow More
    V2X Pilot Programs: Transforming Connected Mobility
    March 1, 2025
    NEMA Introduces New Standard for Bidirectional EV Charging 
    February 23, 2025
    10 quick tips for EV owner
    10 Easy Winter EVs Maintaining Tips to Maximizing Range and Performance
    January 20, 2025
    BYD-humanoid-robot-3
    BYD Joins the Humanoid Robot Race, Launching Global Talent Search
    December 27, 2024
    New Chinese EV to Feature Semi-Solid-State Battery in 2025 at an Affordable Price
    December 17, 2024
  • Upcoming
    • Upcoming Electric Cars
    Upcoming
    Show More
    Top News
    Volvo EX60
    Volvo Upcoming Electric Cars: 2024-2030
    May 21, 2024
    2025-lucid-gravity-exterior
    Lucid Upcoming Electric Cars: 2024-2030
    December 11, 2023
    2204-new-models-guide
    2024 Auto Preview: Unveiling 25 Exciting Cars, SUVs, and EVs Heading Your Way
    January 6, 2024
    Latest News
    Mercedes Upcoming Electric Cars: 2024-2030
    June 4, 2024
    Hyundai’s New Three-Row Electric SUV Spotted in US Testing: Meet the IONIQ 9
    May 29, 2024
    Polestar Upcoming Electric Cars: 2024-2030
    May 29, 2024
    Report Suggest Hyundai’s N Vision 74 Concept: Hydrogen Supercar is ready to Hit the Market
    May 25, 2024
  • Ranking
    • Top 10
    Ranking
    Show More
    Top News
    Best Compact Plug-in Hybrid SUV
    Best Compact Plug-in Hybrid SUV
    July 4, 2024
    Top electric truck-2024
    Top Electric Trucks of 2024
    June 4, 2024
    Best Midsize Plug-in Hybrid SUVs
    Best Midsize Plug-in Hybrid SUVs
    June 30, 2024
    Latest News
    Top 10 Electric Compact SUVs 2025
    May 20, 2025
    Motortrend Best Electric Midsize SUVs 2025
    May 19, 2025
    Best Electric Luxury 3-Row SUVS
    May 18, 2025
    Top 10 Electric Cars to Buy in 2025
    May 5, 2025
  • Privacy Policy
    • Terms and Conditions
    • Disclaimer
  • Contact US
    • Pages
      • My Bookmarks
      • Join Us
Reading: 18% of U.S. New vehicle market is captured by the Electric Vehicles & Hybrid one
Share
Font ResizerAa
IQFineIQFine
  • EV News
  • Electric Bikes
  • Electric Cars
  • Top 10
  • Technology
  • Insider
Search
  • Home
  • Categories
    • EV News
    • Electric Bikes
    • Electric Cars
    • Top 10
    • Technology
    • Insider
  • Bookmarks
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
IQFine > News > EV News > 18% of U.S. New vehicle market is captured by the Electric Vehicles & Hybrid one
EV News

18% of U.S. New vehicle market is captured by the Electric Vehicles & Hybrid one

IQFine
Last updated: 2023/12/02 at 8:21 AM
IQFine Published December 2, 2023
Share
BEV-and-hybrid-share-of-US-new-vehicle-sales-graph
SHARE

Recent report by the U.S. Energy Information Administration (EIA) stated that the combined sales of electric vehicles and hybrid vehicles touched a record high of 18%. EIA writes that “Sales of hybrid, plug-in hybrid, and battery-electric vehicles (BEV) in the United States rose to 17.7% of new light-duty vehicle sales in third-quarter 2023, according to data from Wards Intelligence. Sales of hybrids, plug-in hybrids, and BEVs have accounted for 16.0% of all new light-duty vehicle sales in the United States so far this year, compared with 12.5% in 2022 and 9.0% in 2021,”

The rapidly increasing adoption not only shows interest towards all electric vehicles but the hybrid vehicles are also playing  a vital role in the process of electrification of the mobility market. Tax credit, enormous EV options, well connected charging infrastructure and cutting edge technology are the reasons for the consumer to prefer the electric and hybrid vehicles over the gasoline one. 

The report also highlights that “The share of total light-duty vehicle sales for hybrids, plug-in hybrids, and BEVs rose due to both a decline in sales of non-hybrid gasoline- and diesel-fueled vehicles as well as an increase in sales of several existing BEV models. BEV prices declined across the most popular models, contributing to the rise in third-quarter sales. The average transaction price for BEVs dropped 5% during the third quarter to $50,283, bringing the price 24% lower than at the price peak in the second quarter of 2022. The average price paid for all light-duty vehicles fell less than 0.5% during that same time. BEV prices are now within $3,000 of the overall industry average transaction price for light-duty vehicles.”

US-vehicle-salesv-BEV-sales-by-transaction-price-1536x711
Data source: Kelley Blue Book. Note: Transaction prices do not include applied consumer or government incentives. Hybrid includes both plug-in and non-plug-in hybrid vehicles.

It is also said that the Battery Electric Vehicles (BEV) are concentrated in the luxury category market. As data shows the BEV saw 34% growth of the total luxury vehicle market in the third quarter but that remains below 2% of the non-luxury vehicle market. 

Therefore, it is clearly stated that BEV’s are dominate the lower end of the luxury vehicle market. But, the market is shifting and people are more interested in electric transition. It is not shocking to see some notable shifts in the coming years.

Like this:

Like Loading...

Related

You Might Also Like

Kia’s PV5 Electric Van Goes Camper — First Look at the Ultimate EV Getaway Rig

Top 10 Electric Compact SUVs 2025

Motortrend Best Electric Midsize SUVs 2025

Best Electric Luxury 3-Row SUVS

Mazda Adds Sporty Twist to Its Affordable $20,000 EZ-6 Electric Sedan

TAGGED: Electric Vehicle, Ev News, Hybrid Vehicle, news
Share This Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Social Medias
Facebook Like
Twitter Follow
Youtube Subscribe
Telegram Follow

Weekly Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
Popular News
lotus-eletre-rear-three-quarters
LotusUpcoming Electric Cars

Lotus Upcoming Electric Cars: 2024-2030

IQFine IQFine December 16, 2023
Dodge Charger EV to Make History as the World’s First Electric Muscle Car 
BMW Introduces New App Feature to Highlight the Simplicity of Driving an EV
Mercedes-Benz to Launch Electric CLA Next Year: A Rival to Tesla Model Y
Stellantis Offers Home Charging Solutions or Credits with New BEV Purchases
- Advertisement -
Ad imageAd image

Categories

About US

Welcome to the home of the latest industrial development in the field of Electric Mobility. We are committed to providing you cutting edge news, reports, scoops and exclusives from the mobility market. WIth us be the first to know the latest trends, groundbreaking innovation and unprecedented technologies related to your EV’s.
Quick Link
  • My Bookmarks
  • Customize Interests
Top Categories
  • My Bookmarks
  • Customize Interests

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© IQFine.com News Network. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?
%d