• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 6 days Energy Armageddon
  • 4 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 day "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 2 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 2 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 15 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days The Federal Reserve and Money...Aspects which are not widely known
  • 3 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 11 days Wind droughts
  • 3 days Goldman Betting on Cryptocurrencies
  • 11 days Putin and Xi Bet on the Global South

Americans Aren’t Buying Into The EV Hype

Sales of electric vehicles (EVs), hybrid vehicles, and fuel cell vehicles in the United States slumped in Q3 much more than the slight decline in the overall passenger car market, due to a lack of choice on the U.S. greener car market, analyst company Canalys said in new research.  

Total passenger car deliveries in the U.S. dropped by 1.3 percent year on year to 4.2 million vehicles in the third quarter, Canalys said.

Sales of new energy vehicles (NEVs) in America continue to disappoint, plunging in Q3 by 18 percent on the year, to 90,000 plug-in hybrid, fully electric, and fuel cell vehicles, the company has estimated.  

NEVs accounted for just 2.2 percent of all passenger cars sold in the U.S. in Q3, while sales of SUVs and non-commercial small and medium-sized pick-up trucks all increased between July and September, according to Canalys. Sales of other passenger cars fell by 10 percent on the year.

Among NEVs, Tesla continues to be the market leader, selling more than all its competitors combined and holding a market share of 60 percent in NEV sales in Q3. Yet, even Tesla’s sales in the U.S. dropped by 20 percent on the year in the third quarter, Canalys said.

“There is a severe lack of choice when it comes to NEVs in the US,” Chris Jones, Chief Analyst for automotive at Canalys, said, commenting on the research.

Tesla’s Model 3 deliveries in the U.S. have peaked, while the competitors haven’t offered anything new to challenge the market leader, he added.

Related: The Stage Is Set For Oil Price Volatility On November 18th

“This needs to change in order to grow the EV charging network, spur demand for zero emission vehicles and, as a result, improve air quality in US cities,” Jones noted.

Canalys’s research on U.S. EV sales and Tesla’s market share are similar to that of CleanTechnica, which has recently estimated that Tesla’s models are undisputedly the best-selling electric cars in America. Tesla Model 3 is beating by a wide margin all other makes in the U.S. EV market—the mass-market EV represented 59 percent of all U.S. EV sales in October, and 62 percent of all sales of EVs in America between January and October.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News