EV Sales Are Growing This Year, Despite the Microchip Shortage
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Supply chain issues have crippled the auto industry’s post-pandemic rebound, but they haven’t stopped the electric vehicle market from growing.
This year has seen huge growth in EV development, with a new model announced weekly. EVs are selling faster than they were at their peak, in 2018.
As governments move to help build infrastructure and automakers promise complete powertrain transition within the next two decades, it’s clear to see that electric cars will be common commodities in the not-so-distant future.
Electric vehicle sales are still trending up despite challenges.
2021 EV sales so far
Things look good for the EV industry. According to Green Car Reports, 310,000 EVs sold in the first half of 2021. That’s only 12,000 less than what sold in the whole year of 2020.
The burgeoning industry peaked in 2018 with 361,000 sales before stagnating in 2019 and 2020. This year’s numbers already passed the three-quarter mark of that record, with half a year left to make up the difference.
So far, Tesla and California are doing most of the heavy lifting, cumulatively making up almost half of the market.
But the launch of mass-market models like the Ford Mustang Mach-E and the Chevy Bolt EUV, along with federal infrastructure bills currently in the works, will likely help even things out in the future.
EV sales compared to traditional powertrains
Though projects look promising, the EV revolution has a long way to go to overcome gas-burning engines. Currently, battery and hybrid plug-in models make up only 1% of national vehicle sales.
Things are moving a little quicker in California, the state with the most vehicle purchases in the country, where one in ten vehicles sold in the second quarter of 2021 were BEVs or PHEVs.
President Biden hopes to see those numbers increase in the coming years. They will have to if his administration wants to reach its goal to turn 50% of car sales into EV sales by 2030.
Your transition to electric
With EVs making up such a small piece of the auto industry pie, you might feel like it’s too early to trade your internal combustion engine for a battery-powered car. But automakers and governments are making the transition easier every day.
Many electric cars are still too expensive for the average consumer, but brands like Chevy, Ford, and Nissan are working to break down the price barrier, and many more have promised to join them.
Fewer trips to the mechanic, lower energy costs, tax incentives, and car insurance discounts also help to make EVs more affordable.
If you’re looking for EV insurance discounts, go to Jerry. A licensed broker that offers end-to-end support, the free Jerry app gathers affordable quotes, helps you switch plans, and even cancels your old policy for you.