Annual EV Sales are on Track to Surpass the 1 Million Threshold for the First Time This Year.
Sales of battery electric vehicles in the US are growing faster than any other segment and are now predicted to account for 8-9% of US auto sales in 2023.
It took 10 years for the US to sell its first million fully electric vehicles (we're not counting hybrids here), two years to reach the second million and just over a year to reach the third.
EV Annual sales are on track to surpass the 1 million threshold for the first time this year.
Sales have also shot past what is considered a critical tipping point for mass adoption. Once EVs reach 5% of new car sales, this signals the start of the fast part of the S-curve, when technological preferences rapidly flip.
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