In the second quarter of 2022, U.S. electric vehicle sales accounted for 6.6% of light vehicle sales in the quarter, up 2.83 percentage points year-over-year, with California ranking first in electric vehicle penetration.

 

 

 

The use of electric vehicles is rapidly increasing as federal government vehicles and post office delivery vehicles are driving the switch to electric vehicles. Electric vehicles, which account for less than 1% of the total U.S. light vehicle market, are achieving year-over-year growth in penetration in all 48 states, driven by bipartisan policy investments in the U.S.

 

 

According to Tidal Power Intelligence, not only did three of the 50 states (California, the District of Columbia, and Washington) have EV penetration rates above 10% in Q2, but a total of 48 states saw year-over-year increases in the share of EVs.

 

 

 

 

In terms of power type, BEVs had a much higher share and increase than PHEVs and FCEVs; in terms of region, California had the largest increase (7.3 percentage points), followed by New Jersey, Nevada, Washington, and Colorado; and in terms of purchase rate per 10,000 residents, the top three states were California, Hawaii, and Washington.

 

 

In addition, the recently officially passed Inflation Reduction Act of 2022 added a new $4,000 tax credit for used electric vehicles, providing for a $7,500 electric vehicle tax credit; the removal of the 200,000 sales limit provision means that sales of electric vehicle models under brands such as Tesla, GM and Toyota are expected to increase further.