Electric Vehicle Sales and Market Share in 2019

Electric Vehicle Sales and Market Share in 2019

The electric vehicle sales and market share in 2019 went into a slight decline compared to 2018. While the Tesla Model 3 had another year of massive success, other electric vehicles (EVs) did not have so much luck.

This article will not only review the electric vehicle sales and market share in 2019 but will also look at 2020 and beyond forecasts. 

Electric Vehicle Sales in 2019:

Electric vehicle sales in 2019 decreased 9% from 2018, per InsideEVs. Overall, there were nearly 330,000 electric cars sold. Of which, about 160,000 was the Tesla Model 3. Yes, roughly 50% of EV sales in 2019 were the Model 3.

There are two ways to look at this data. The positive: the Model 3 is wildly successful. In 2019, the Model 3 sold more than the Ford Edge, Toyota Tundra, Toyota 4Runner, and Chevy Malibu, according to GoodCarBadCar. When looking at just cars (excluding SUVs, vans, and trucks), the Model 3 was the 9th bestseller. Even more, the Model 3 was the 3rd bestseller in the California car market. California is the largest state market for EVs. 

The negative: electric car sales slumped downward to approximately 30,000 units. Despite the increasing sales trend from Tesla, the other automakers stalled or decreased electric vehicle sales in 2019. Even with the release of affordable, 200+ mile electric cars, such as the Kia Niro EV, Hyundai Kona EV, Nissan Leaf e-Plus, car buyers were not as interested as they were in 2018. 

Electric Vehicle Market Share in 2019:

When looking at the electric vehicle market share in 2019, the national market remained virtually the same at 1.96% while the California market increased to 8.26%, per Veloz and AutoAlliance. The EV market share means the percent of EVs sold compared to gas vehicles in the U.S. Unfortunately, data for the other states are not available at the moment. As soon as it does, I will update the chart accordingly. 

2019 Electric Vehicle Market Share
2019 Electric Vehicle Market Share

As you can see, there is a gentle increase in the EV market share over the years. Most notably, the electric car market share in California, again as the largest EV market in the U.S., increases every year. 

Electric Vehicle Sales and Market Share Forecast:

Despite the overall downward trend of electric vehicle sales and market share in 2019, the outlook looks promising for 2020. With the release of several new electric vehicles (EVs), such as the Tesla Model Y, Ford Mustang Mach-E, and VW ID.4, and the gaining popularity of EVs in general, analysts predict 2020 will be the biggest year ever. 

See the complete list of Available and Future Electric Vehicles to view each EVs release year, price, range, and other specs. 

Per EVAdoption, estimated annual EV sales will eclipse 1.2 million by 2024, which achieves a 7% market share. For California, projected electric car sales will hit 500,000 by 2024, which achieves a 25% California market share.

Electric Vehicles Sales and Market Trends
Source: EVAdoption
Electric Vehicles Sales and Market Trends
Source: EVAdoption

Looking beyond 2024, electric vehicle sales and market share are expected to keep growing. This is expected to be from all of the auto manufacturer’s commitments to going electric. While Tesla sales are projected to grow significantly each year due to the release of new products (Model Y, Cybertruck), other automakers plan to grow, too. Specifically, see previous articles discussing Volkswagen’s, GM’s, and Hyundai/Kia’s electric car plans.

Closing Thoughts:

While 2019 may have been a slight recession, 2020 and beyond look particularly bright for EV sales and market share. Overall, more and more people are going electric. As the number of electric models, charging stations, and general EV education increases, the more people will make the transition. It is only a matter of time. 

In case you missed it, check out the complete Available and Future Electric Vehicle Table. Whether you are planning on getting an EV or just window shopping, this table will give you all the information you need for your next electric car. 

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