Electric Vehicle Market in the US: A Look at the Current State
The electric vehicle market is booming in the US, with sales and models increasing rapidly. However, despite this growth, only two car brands currently qualify for electric vehicle incentives in the US – GM and Tesla. In this article, we will delve deeper into the current state of the electric vehicle market in the US, examine the growth, and explore the reasons behind it.
Increase in Electric Car Models Available
According to recent data, the number of electric car models available in the US has increased significantly, rising by more than 100 over the past year. This increase has had a positive impact on sales.
Increase in Electric Car Sales
Electric car sales in the US have increased by 45% over the past 12 months. This impressive growth can be attributed to the broader range of electric car models available in the US.
Tesla Holding Market Share
Despite an increase in competition, Tesla has managed to hold onto its market share. In fact, it has a 62% market share in the electric vehicle market in the US. This is a remarkable feat, given the rapid increase in electric car models available.
Tesla and GM Have an Advantage
Tesla and GM have a significant advantage over their rivals in the electric vehicle market in the US. They are the only two car brands outside of two models of the Ford F-150 that currently qualify for electric vehicle incentives in the US.
Rivals Getting Concerned
Rivals are becoming increasingly concerned about Tesla and other electric car manufacturers, as evidenced by the recent appearance of Volkswagen executives at the Chinese Automotive show. This is a clear indication that other car brands are paying attention to the growth of electric car manufacturers.
Denial Among Some Americans
Despite the growth of the electric vehicle market in the US, there are still many people in the country who are in complete denial. They believe that electric cars will not catch on, despite the recent positive trends.
The Best Electric Cars for the Price
The two most important cars in the electric vehicle market in the US are the Bolt and Bolt EUV, the Model Y, and the Model 3. These cars are the best electric cars for the price and are currently selling very well.
A Low Price for Model Y
The Model Y is currently available for an incredibly low price of $42,500 in the US. It qualifies for the incentives, making it an attractive option for those looking to buy an electric car.
GM and Tesla Ramping Up Production
GM and Tesla are ramping up production of electric cars, which will significantly increase their market share in the US. Manufacturers that do not produce electric cars will fall further behind.
The electric vehicle market in the US is growing at a rapid pace, with sales and models increasing at an impressive rate. Tesla currently holds a significant market share, while GM and Tesla have an advantage over their rivals in the electric vehicle market. Rivals are beginning to take notice, and manufacturers that do not produce electric cars will fall behind. The future of the automotive industry is electric, and the US is finally catching on.