Of all new-vehicle buyers within the third quarter, 27% thought-about an electrified automobile, which incorporates full electrical autos (EVs), hybrids and fuel-cell autos, in response to analysis from Kelley Blue E-book launched Nov. 11. That’s the identical proportion as within the second quarter and simply shy of the height of 28% within the fourth quarter of 2021.

Hybrids and plug-in hybrids (PHEVs) proceed to be extra well-liked amongst buyers, as 20% thought-about a hybrid, matching its This autumn 2021 peak. However, searching for EVs slipped to 11% in Q3, down from 12% within the earlier quarter and from the height of 13% within the fourth quarter of 2021. Of the High 10 most-shopped electrified autos, seven have been hybrids, and three have been EVs. 

The Q3 electrified-vehicle procuring knowledge is sourced from the latest Kelley Blue E-book Model Watch™ Report. This client notion survey additionally weaves in procuring habits to find out how a model or mannequin stacks up with its section opponents on a dozen elements key to a client’s shopping for choice. Kelley Blue E-book produces separate Model Watch stories for non-luxury and luxurious manufacturers every quarter. Starting in Q1 2022, the methodology contains surveying each cellular and desktop customers as an alternative of solely desktop customers.

Electrified Car Gross sales Grew in Q3, Led by EVs

Whole gross sales of electrified autos in Q3 grew by almost 12% in an vehicle market that was usually flat yr over yr. Electrified automobile share elevated to 12.1% of the entire market, up from 10.8% in Q3 2021.  

Electrified automobile gross sales progress, nevertheless, was as a result of a big enhance in EV gross sales throughout the quarter. EV gross sales jumped by 68% yr over yr in Q3. And, for the primary time, EV gross sales within the U.S. – thanks partly to raised stock ranges – almost equaled hybrid gross sales: 205,682 vs. 206,072, respectively. For comparability, a yr earlier, in Q3 2021, greater than 245,000 hybrids have been offered vs. solely 122,000 EVs.

Hybrid stock was significantly tight in Q3 2022, proscribing gross sales. Whole gross sales of hybrids and plug-in hybrids fell by 16% yr over yr within the quarter.  

Whereas searching for EVs is holding regular close to 11%, gross sales are clearly growing quickly, maybe suggesting EV consumers are a singular breed and presumably pursue completely different procuring methods than conventional consumers of hybrids or pure combustion-powered autos. Tesla procuring, for instance, continues to drop, however gross sales stay strong.

Tesla Dominates EV Gross sales as Purchasing Visitors and Model Energy Falter

The Mannequin 3 was the one Tesla on the High 10 most-shopped electrified checklist. Up to now, the Mannequin Y and Mannequin S have persistently been among the many High 10 electrified autos, as they have been within the second quarter.

Tesla procuring, on the whole, plummeted in Q3. The model fell to sixth from fifth within the rankings of most-shopped luxurious manufacturers, shedding three proportion factors of procuring consideration, essentially the most of any luxurious model. The Mannequin Y and Mannequin S additionally fell off the checklist of the High 10 most-shopped luxurious autos. By way of the 12 elements that drive luxurious automobile consideration, Tesla was #1 in three: driving efficiency, gasoline effectivity and know-how. In Q3 2019, Tesla was first in seven of the 12 elements.

Nonetheless, there isn’t a denying Tesla’s gross sales success. Its EV market share is waning as new gamers enter the sphere, however Tesla nonetheless dominates with a 64% section share. Extra importantly, Tesla continues to be the highest luxurious model by gross sales within the U.S. far forward of Mercedes-Benz. Shopper curiosity and model picture could also be diminished, however gross sales have by no means been stronger.

Different pure EVs on the most-shopped electrified-vehicle checklist embrace the favored new Ford F-150 Lightning, which ranked No. 8. The Chevrolet Bolt EV, among the many most reasonably priced EVs available on the market, returned to the checklist at No. 10, after a hiatus as a result of a stop-sale and recall requiring battery swaps and aided by a $6,000 worth reduce. The Ford Mustang Mach-E dropped off the High 10 checklist.

Amongst Hybrid Gross sales, Toyota Dominates

Toyota, accused by critics of being a laggard in providing electrical autos, had essentially the most autos on the High 10 most-shopped electrified checklist, all of them hybrids. Toyota can be the most-shopped non-luxury model.

Searching for the Toyota RAV4 Hybrid soared by 21% within the third quarter, due partly to excessive fuel costs. That helped the RAV4 Hybrid retain its long-held spot because the most-shopped electrified automobile and returned it to the checklist of High 10 most-shopped non-luxury autos in complete, after dropping off at year-end 2021. The Highlander Hybrid ranked No. 4 amongst electrified autos. The Prius returned to the checklist at No. 9. The Toyota Camry Hybrid fell off the High 10 checklist.

Toyota sells extra hybrids than any automaker within the U.S. For the primary 9 months this yr, Toyota accounted for almost half of all hybrids offered within the U.S. Hybrids make up a couple of quarter of Toyota’s general gross sales. Toyota offered 100,000 hybrids within the third quarter, however that complete was down notably from a yr in the past as a result of tight stock and restricted product availability.  

Rival Honda held two spots on the High 10 most-shopped electrified checklist, additionally with hybrids. The Honda CR-V Hybrid maintained its long-held spot at No. 2. The hybrid model of the redesigned Honda CR-V goes on sale in 2023. The Honda Accord Hybrid ranked No. 5.

Ford additionally positioned one hybrid on the High 10 checklist: The Ford Maverick pickup truck, which comes customary as a hybrid or with an optionally available gasoline engine, tied at No. 5 with Accord.

Initially posted on Car Remarketing