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USA is one of the most prominent automobile markets in the world with 14-16 million units yearly. The market is mainly based on trucks with Ford F-150 holding the most sold vehicle tag. SUVs and crossovers are other segments popular among vehicle owners in this region.
USA is also home to prominent global OEMs such as the Detroit 3 – Ford,GM and Stellanis groups. Nissan, Toyota, and Honda are some of the foreign OEMs who have established manufacturing facilities in USA to develop and manufacture vehicles for the American customers
To know more about Global Electric Car Market, read our report
There is a $7,500 credit for EV owners in the USA currently and there is a push for raising it to $12,500. President Joe Biden has proposed $174 billion for electric vehicles and charging stations, including $100 billion for consumer rebates.
Multiple states have an extra tax benefit on top of the federal tax benefit for EVs. California is the largest market for EV sales mainly due to the incentives offered as well as the higher purchasing power in the state. In California, on top of $7,500 there is a $2,000 tax credit which decreases the overall price by $10,000 for the consumer.
The fastest-selling used cars in the United States in July 2021 were all EVs, according to iSeeCars.com analysis of used-car sales for vehicles from model years 2016 to 2020.
The Tesla Model 3 topped the charts, at an average 15.7 days to sell, while the average transaction price across model years was $46,982, according to the analysis. Even Model 3 sedans from the 2018 model year—its first—sold for $45,291.
The Chevrolet Bolt EV came in second place, averaging 20.8 days to sell, with an average transaction price of $22,005. The Tesla Model S completed the podium, at an average 21.3 days to sell, with an average transaction price of $64,205.
While all three models are among the most popular EVs, it’s still notable that used examples are selling so fast.
Bolt EV demand seems to have remained strong despite fire issues that have triggered multiple rounds of recall efforts, as well as the introduction of a refreshed 2022 Bolt EV and new Bolt EUV model.
Tesla buyers who choose a used Model S risk missing out on some of the latest features or performance upgrades, but it seems that the introduction of the Model S Plaid just served to generate more interest in this big electric fastback as a used car.
This is the fifth consecutive month the Model 3 has appeared on the list of fastest-selling used cars. Perhaps more remarkable, though, are the average transaction prices of the Tesla sedan.
New-vehicle prices increased $2,125 (up 5.4%) from May 2020, while increasing $493 (up 1.2%) from April 2021.
Despite a large gap in average transaction prices for luxury and non-luxury segments in May 2021, non-luxury vehicles had a larger year-over-year price increase at 4.9% (up $1,805), while luxury vehicles climbed 2.9%, or $1,597, from this time last year.
Standard full-size SUVs and pickup trucks contributed to the growth among non-luxury segments. The third and fourth highest-priced models within the segment include the GMC Yukon XL ($79,695) and Yukon ($77,031), both priced substantially above the industry and segment average.
However, as one of two segment outliers, the other being high-performance cars, the average price for EVs dropped 10.8% from May 2020 to May 2021, from $58,863 down to $52,486. On a month-to-month basis, the average EV price in May 2021 rose 1.9% from $51,518 in April 2021.
The USA’s electric vehicle market was estimated at $xx Billion in 2020. With more than 20 EVs (BEV PHEV) in pipeline, the market volume could grow up to XX Million or xx% of new car sales by 2025.
There are about 5,192 DC Fast chargers present across USA with 18,643 connectors
Tesla leads the way for EV sales in the USA. They began with Roadster in 2008 and now have Model 3,S,X and Y. Tesla Semi, Roadster and Cybertruck will also hit the market soon. The dominance of Tesla will remain as they increase their production capacity with a new Gigafactory in Texas.
GM launched the Ultium platform with more than 20 models to be launched by 2025, with Hummer SUV and Truck being the first models followed by Cadillac Lyriq and Chevrolet Bolt EV. LG Chem will be one of the biggest associates for GM in their electrification journey.
GM announced a $2.2 Billion investment at its Detroit-Hamtramck assembly plant to produce a variety of all-electric trucks and SUVs along with $800 Million for supplier tooling and other projects related to the launch of the new electric trucks. GM and LG Chem announced plans to build a $2.3 billion plant in Lordstown, Ohio to mass produce battery cells for electric vehicles
Ford launched Mustang Mach E and is one of the best sellers in 2021 across USA among EVs. They also announced the electric version of their most selling vehicle Ford F-150 and has 70,000 pre orders. Ford is investing ~$30 Billion for electrification of their models and this will include a battery plant in association with SK Innovation.
Stellantis, the consolidated group of FCA and PSA, will launch multiple BEVs and PHEVs across the USA mainly along the brands of Chrysler and Jeep. PSA’s stronghold in the European market will allow it to make inroads in the USA with technological knowledge as well as FCA’s consumer understanding.
USA is also home to multiple electric vehicle startups. Rivian showcased their truck and SUV and have already received large orders from Amazon and other firms for electric vans etc. Ford is also an investor in Rivian.Lucid motors showcased their electric vehicle and is expecting to take on Tesla in terms of performance and dominance among luxury electric vehicles in the country.
General Motors will increase its EV and AV investments from 2020 through 2025 to $35 billion, representing a 75% increase from its initial commitment announced prior to the pandemic.
Comprising three interconnected initiatives, Nissan EV36Zero brings together electric vehicles, renewable energy and battery production. The project has been launched with an initial £1-billion (US$1.4-billion) investment by Nissan and its partners battery-maker Envision AESC and Sunderland City Council.
The Detroit Big Three, Ford, GM, and Stellantis, announces a joint goal for electric vehicles to achieve 40% to 50% of their sales in the US by 2030. Over the last year of 2020, Ford, GM, and Stellantis each independently announced their plans to accelerate the electrification of their respective vehicle portfolio.
The electric vehicle sales grew 95% between January and April 2021 compared to 36% for the overall US new car market.
Porsche significantly expands its electric car sales in the U.S., delivering a record number of 3,359 Taycans. The growth rate from a low base of 818 (affected by COVID-19-related lockdowns) is 313% year-over-year.
Volkswagen announces strong sales results in the second quarter of this year in the U.S. The company sold 120,520 vehicles, which is the highest quarterly results since 1973 and the sales rebounded 72% from the weak last year. The Volkswagen ID.4 sales resulted at 5,756. In Q2 2021, the ID.4 was also responsible for a noticeable 4.8% of the total Volkswagen sales.
Mitsubishi reports that its U.S. sales in the second quarter of 2021 rebounded by 106% compared to Q2 2020, reaching 25,146. The plug-in hybrid Mitsubishi Outlander PHEV remains a marginal model with just 385 units (up 35% year-over-year) sold. Its share out of Mitsubishi’s total volume decreased to 1.5%.
The new Toyota RAV4 Prime sold 6,875 units in Q2 and 9,667 YTD. The brand reports strong sales results in the U.S. as its overall sales in Q2 amounted to 605,353 (up 74% year-over-year) and 1,134,166 YTD (up 46% year-over-year).
Electric vehicles are seen as a major tool in reducing CO2 emissions, so the sales of these vehicles are closely watched. The amount of electricity they use also is of significant consequence to electric utilities that will have to decide whether they have enough generation to supply the growing number of EVs.
As COVID-19 had a drastic impact on vehicle markets during the first half of 2020, and also that it had a different impact on each of the markets and further due to the implementation of climatic laws in Europe, the Biden administration is now racing to adopt its energy and climate policy priorities before the pressures of the 2022 midterm elections limit what the White House can do.
Due to the outgrowing numbers of the new vehicle registrations data for the first half of 2020 and the announcement by the Detroit Big Three, Ford, GM, and Stellantis, to achieve an electrification sales from 40% to 50% of their sales in the US by 2030 along with the General Motors which announces its plans to stop production of gasoline-powered light-duty vehicles by 2035 and transition completely to EVs will be a worst hit for the gasoline producers as the amount of gasoline is now going to be replaced by electric charging.
Over the last year of 2020, Ford, GM, and Stellantis each independently announced their plans to accelerate the electrification of their respective vehicle portfolio.
The United States, monthly average sales of passenger cars and light trucks hovered around 1.1 million, which is about 21% lower than in the first half of 2019.
Whereas the share of electric vehicles has remained essentially unchanged throughout the past months, being stuck at around 2% and thereby much lower than in Europe and China.
Mazda prepares for the introduction of battery – powered MX-30 which includes a a series plug-in hybrid with a rotary generator for MX-30, a plug-in hybrid for the new large platform of US, and a traditional hybrid for a new American-made crossover. The rotary generator will mark the return of our unique rotary powertrain. This technology is being engineered for nearly silent operation and will replenish the battery rather than drive the wheels.
Toyota is set to launch Toyota LQ an electric vehicle designed with advanced technology it’s personalized driving experience comes from “Yui,” an Artificial Intelligence Agent onboard, program developed to learn from the driver.
In addition to dual-motor AWD, Volkswagen promises the ID.5 GTX to arrive with OTA update capabilities and Car2X technology. This is Wi-Fi p technology will allow VW vehicles to communicate directly with each other and their surroundings.
ELECTRIC CAR MANUFACTURERS
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