US Electric Vehicle Sales Accelerate, Hitting 3 Million Mark in Record Time

Electric vehicle (EV) sales in the United States have reached unprecedented levels, according to a Bloomberg Green analysis. The share of new electric cars sold exceeded 7% for the first half of the year, surpassing a critical threshold for mass adoption. In the last few months, total EV sales in the country topped 3 million.

The pace of EV adoption has significantly accelerated. “It took 10 years for the US to sell its first million fully electric vehicles, two years to reach the second million, and just over a year to reach the third,” the report stated. As of June, Americans purchased 977,445 fully electric cars in the past 12 months, nearing the milestone of 1 million new EVs per year.

The report also highlighted the role of California and Tesla in the rapid adoption of electric vehicles. California was the first top-10 global auto market to reach an EV sales share of 5%. Tesla recently surpassed Toyota as the top-selling vehicle brand in the state and accounts for 61% of all EVs ever sold in the US.

The geographical distribution of EV adoption is beginning to diversify, with states like Texas, Florida, Washington, and New Jersey gaining market share. BloombergNEF analyst Corey Cantor noted that if plug-in hybrids are included, Americans are buying a million EVs every nine months.

We’re just getting started in the transition to EVs and Tesla is leading the charge. Buckle up, folks. What do you think trends will be in five years, for example?