How Many Electric Cars Are There in the US in 2024? A Deep Dive into the Latest EV Adoption Trends
If you‘ve been considering an electric vehicle, you‘re not alone. Electric car sales are accelerating across the U.S. as more drivers discover the benefits of going electric. But exactly how many EVs are on the road today? And which states and models are leading the charge?
As an experienced tech industry analyst, I‘ve dug into the latest electric vehicle stats to give you an in-depth look at EV adoption in 2024. Read on for a detailed breakdown of how many electric cars are in the U.S. right now, which automakers are topping the charts, and where industry experts think the market is headed next.
The Current Electric Car Count: 2.5 Million and Counting
According to the most recent data from the U.S. Department of Energy, around 2.5 million electric vehicles have been sold nationwide between 2010 and 2022. This includes both pure battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
To put a finer point on it, Argonne National Laboratory reported over 56,028 BEVs were purchased in March 2022 alone. For the full first quarter of the year, total BEV registrations climbed to 158,689 units nationwide – a 60% increase versus Q1 2021.
And the momentum kept building. In Q2 2022, U.S. electric vehicle sales rose 13% compared to Q1, with 196,788 EVs sold. Adding it all up, about 442,000 electric cars across all categories found new homes in the first half of 2022.
So in just the span of six months, over 200,000 Americans chose to go electric. Based on this trajectory, I forecast total EV sales will cross over 600,000 units in 2022.
EV Hot Spots: California and Beyond
Not surprisingly, California continues to lead the charge when it comes to EV adoption. As of December 2021, the state was home to 563,070 registered electric vehicles – more than any other state.
But electric excitement is building coast to coast. Florida ranks second for total EVs with 95,640, followed by Texas with 80,900. Other top states include Washington, New York, New Jersey, Massachusetts and Illinois – all with over 45,000 registered electric cars.
And Americans living in smaller EV-friendly cities are plugging in as well. For example, Seattle has the highest EV adoption rate of any U.S. city at 15% of all registered vehicles. San Jose, Portland and San Diego also boast double digit EV penetration rates.
As you can see, forward-thinking drivers across the country are embracing the electric vehicle revolution. Keep reading for a closer look at the EV models winning over buyers today.
Top Selling Electric Cars in 2021
With more automakers joining the EV party, purchasing an electric car today is about balancing your needs and wants. Priority factors typically include price, driving range, charging convenience, safety ratings, cargo space and tech features.
According to 2021 U.S. sales data compiled by Kelley Blue Book, these EV models lead the pack:
- Tesla Model Y – 172,700 units sold
- Tesla Model 3 – 128,600 units
- Ford Mustang Mach-E – 27,140 units
- Chevrolet Bolt – 24,828 units
- Volkswagen ID.4 – 16,742 units
- Nissan Leaf – 14,239 units
- Audi e-tron – 10,921 units
- Porsche Taycan – 9,419 units
- Tesla Model S – 9,100 units
- Hyundai Kona Electric – 8,936 units
As you can see, Tesla still dominates the EV market in the U.S. thanks to its diverse model lineup and industry-leading technology. But major players like Ford, VW, Audi and Porsche are quickly catching up as they roll out exciting new electric options.
Early data for 2022 indicates the Tesla Model Y and Model 3 still reign supreme. However, I expect the luxury EV market to heat up as drivers consider competitive new entries like the Mercedes EQS, Lucid Air and BMW i4.
Top Electric Car Companies So Far in 2022
Speaking of competition, the race for EV supremacy is growing more intense each quarter among automakers. Let‘s look at market share for electric car sales in the U.S. from January to May 2022:
- Tesla – 13.6%
- SAIC-GM-Wuling – 9.3%
- BYD – 8.5%
- Volkswagen Group – 8.5%
- Hyundai-Kia – 6.2%
- Geely-Volvo – 6.2%
Tesla still leads the industry by a sizable margin. However, Chinese manufacturers like SAIC and BYD are making inroads in the U.S. along with legacy automakers like VW and Hyundai-Kia. I expect the playing field to level out in the coming years as more automakers invest in electrification.
Let‘s look closer at how the EV sales race may unfold in the near future.
The Outlook for U.S. Electric Vehicle Sales
Industry analysts predict rapid growth ahead for the EV market as automakers expand model availability and improved battery tech increases range.
According to Statista, U.S. electric vehicle revenue is forecast to reach $49 billion in 2022. Revenue is then expected to accelerate to $139 billion by 2027, reflecting a compound annual growth rate of 23% during this period.
Several interlocking trends are fueling this growth:
- Mainstream Adoption: EV options are expanding across luxury and budget price points, appealing to wider range of buyers.
- Range & Charge Times: Latest EVs can drive 300+ miles per charge. New chargers slash recharge times to 15-30 minutes.
- Consumer Interest: Surveys show rising awareness and consideration for EVs among car shoppers.
- Incentives: Government rebates, tax credits and regulations spur consumer and corporate EV adoption.
- Infrastructure: Charging networks are scaling nationwide, easing range anxiety.
- Fleet Electrification: Corporations, governments, rental companies and universities are adding EVs.
- Investments: Automakers are pouring billions into next-gen EV tech and factories.
With so much momentum across the industry, electric vehicle sales seem poised for takeoff in the United States. Let‘s look at projections.
U.S. Electric Vehicle Sales Forecast
According to BloombergNEF‘s latest electric vehicle outlook report, analysts expect U.S. EV sales to reach the following milestones:
- 2022: 607,000 units sold
- 2025: 1.4 million units sold
- 2030: 4 million units sold
- 2035: 9.4 million units sold
- 2040: 17 million units sold
As you can see, electric vehicle adoption is forecast to grow by leaps and bounds over the next two decades. By 2035, over half of new cars sold in America are projected to be electric.
Driving this growth is what I call the "Tesla Halo Effect." As Elon Musk‘s company has proven, electric cars can outperform gas-powered cars when designed from the ground up. Now Tesla has sparked a global race to develop clean, efficient EVs that deliver superior design, performance and experiences.
It‘s an exciting time for drivers as automakers compete to woo us with their visions of the electric future. The winners will be those that can balance range, charging speed, intelligent software, thrilling performance and visual flair at accessible price points.
Based on the momentum so far, it looks like EVs are on course to become the new normal for American drivers within the next 10 to 15 years. And that‘s great news for reducing carbon emissions as we work to secure a sustainable future.
The Road Ahead
As an industry analyst tracking the growth of electric vehicle technology closely over the past decade, the future is looking bright.
Already, over 2.5 million EVs have hit the road in the U.S., with sales accelerating rapidly since 2020. California continues to blaze the EV trail, but other states like Florida and Texas are seeing soaring growth as charging infrastructure expands.
Tesla remains the leader, but competition is heating up across luxury and budget brands. Mainstream adoption is tipped to climb sharply in the coming years as EVs achieve range and cost parity with gas vehicles.
It‘s an exciting time to go electric, with so much innovation underway. I hope this detailed look at the latest EV stats has helped you understand the state of the industry in 2024 and where we‘re headed next. The electric future is closer than you think!
Let me know if you have any other electric car questions. I‘m happy to chat more about the models, technology and trends shaping the switch to sustainable driving.
