According to automotive research institution J.D. Power, due to the majority of car buyers continuing to avoid electric vehicles, battery-powered models will only account for 9% of the market share in the United States this year, lower than the previous expectation of 12.4%.
According to J.D. Power, due to the majority of car buyers continuing to avoid electric vehicles, battery-powered models will only account for 9% of the market share in the United States this year, lower than the previous expectation of 12.4%.
The data shows that although electric car sales in the United States did not meet expectations, they are still steadily increasing. In the second quarter, electric car sales in the United States increased by 11.3% year-on-year, reaching a record-breaking 330,4631 vehicles.
This summer, auto manufacturers have announced the withdrawal of ambitious electric vehicle production targets, including General Motors (GM.US) and Ford Motor (F.US). Despite some positive factors, such as the opening of Tesla's supercharging network, and the cost competitiveness of mainstream and high-end electric vehicles compared to gas alternatives, thanks to active incentives by manufacturers, federal and state governments, and lower operating costs.
JD Power stated, "Transitioning to electric vehicles takes time because there are several interdependent variables that will affect adoption, but as consumers try to match their car choices with their lifestyles, the foundation is growing stronger."
JD Power still expects the popularization of electric vehicles to reach a tipping point. After weighing recent developments, the company believes that by 2030, electric vehicles will account for 36% of the total retail market in the United States, and by 2035, it will account for 58%. JD Power emphasizes, "The current slower-than-expected sales pace is driven by a series of relatively short-term variables, which will gradually disappear as the popularization of electric vehicles continues to reach a tipping point."
Bloomberg New Energy Finance predicts that the market share of electric vehicles in the United States will be 10% this year.
A week ago, Ford Motor just adjusted its electric vehicle strategy. Ford Motor stated that it plans to cancel the release of a three-row seat electric SUV and postpone the launch of its bestselling pickup truck F-150's new electric version by nearly two years, as the company is focusing on cost reduction to stimulate demand.
Other auto manufacturers, such as Volkswagen Group and General Motors, have also postponed or canceled the production plans for new electric vehicle models due to the slow demand, in order to avoid investing a large amount of money in models that are not selling as fast as expected by consumers.