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While the UAW strike has slowed output at auto factories nationwide, the fallout has not fully hit consumers in dealer showrooms.
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Total 2023 EV sales will likely surpass the milestone one million mark next month as the electric vehicle market transforms due to more product and supply and downward pricing pressure.
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Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
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Tesla’s share fell below 60% for the first time, but the No. 2 seller of EVs in the U.S. – Chevrolet – is a distant second. Numbers will fuel the budding used EV market further.
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Fleet sales have helped underpin the market improvement so far this year. Forecasts suggest fleet sales could increase by more than 40% year over year,
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Vehicle shoppers now have a much better chance of finding something that fits their needs as improved supply relieves pent-up demand.
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Recently previewed at the Brisbane Auto Show, the new-generation Mighty Electric registers a GVM of up to 7.3 tons and a payload of about four tons.
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Twice as many vehicle shoppers considered hybrids instead of an EV and eight of 10 top selling electrified vehicles last quarter were hybrids.
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Post-pandemic pent-up demand is moving into the automotive market. Strong sales growth into fleets strengthened April numbers.
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Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
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