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How big is the electric car industry?
I’ve been thinking about buying an electric car to become more eco-friendly, but I wonder if electric cars are here to stay or if they’re just a passing fad. I hear about them all the time, but I wonder how common they actually are, and how much the industry is expected to grow. How big is the electric car industry?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
While the
electric car
industry may be relatively small, now is a great time to get in on the ground floor of a growing industry. As of 2022, less than 1% of the 250 million cars, SUVs, and light-duty trucks on the road in the United States are electric, but those numbers are due to change exponentially. According to industry analysis, by 2035 approximately 45% of new car sales could be electric, with about half the cars on the road being electric by 2050.
If you’re thinking about buying your first electric car, save big on your
car insurance
plan through the Jerry
app today. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance. Jerry will even help you cancel your old policy.
To ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price.
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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