Electric vehicle sales record, according to Kelly Blue Book

Electric vehicle sales record, according to Kelly Blue Book

The expansion of the electrified automobile section far outpaced the remainder of the business within the third quarter of 2022, and boasted file gross sales within the US market

AtlantaAnd the October 19, 2022 /PRNewswire/ — Electrical automobile gross sales hit a file within the third quarter of 2022, as one of many hottest segments of the US auto market continues to make waves throughout the business, in line with Kelley Blue Ebook, a Cox Automotive firm. Greater than 200,000 electrical automobiles have been offered within the three-month interval of the third quarter – the primary – with the section far outperforming the remainder of the business by way of gross sales quantity and inventory progress.

The excessive value of electrified automobiles doesn’t appear to discourage automotive consumers. Whereas electrical automobile costs decreased barely (1.8%) month-on-month from August to September 2022electrical automobile costs rose 9.7% in September 2022 In comparison with final yr in September 2021. The typical worth of a brand new electrical automotive was final month $65,291In response to Kelley Blue Ebook, which is properly above the business common and extra in step with luxurious versus mainstream pricing. Regardless of the excessive costs of electrical automobiles, shopper curiosity is displaying no indicators of slowing.

“Electrical automobiles proceed to be beloved within the business, because the rising market and shopper curiosity is now mirrored in file gross sales numbers,” he mentioned. Brian Moody, government editor of Kelley Blue Ebook. “Whereas electrical automobile costs are at present intently aligned with luxurious versus mainstream, the market continues to develop and evolve with extra choices hitting the scene on a regular basis. It is now not nearly ‘what Tesla automobiles can be found’, however slightly an business growth with Extra electrical automobiles on the horizon from Ford, Basic Motors, Hyundai and different producers.”

Whereas Tesla stays the main electrical automobile model, new entries proceed to indicate sturdy progress as they eat up the share. Tesla’s share of the electrical automotive section declined within the third quarter, though a ‘much less’ share of 64%, is a relative time period. Declining share was inevitable for Tesla as extra gamers entered the market, however for now, the model stays the chief amongst electrical automobiles. Extra notable than the decline within the share of electrical automobiles is the truth that Tesla simply took the highest spot within the luxurious automotive market throughout the third quarter, overtaking the second Mercedes-Benz by a big margin.

Removed from pure electrical automobiles, Toyota stays the gold customary for a hybrid powertrain. Toyota’s hybrid gross sales declined year-over-year within the third quarter as a result of a scarcity of stock, however the model nonetheless moved greater than 100,000 hybrids in the US throughout these three months. Because the starting of the yr, almost half of hybrid automobiles have been offered United State Put on a Toyota badge.

To view the Q3 2022 Electrical Car Gross sales Report from the Kelley Blue Ebook, go to https://www.coxautoinc.com/wp-content/uploads/2022/10/Q3-2022-Kelley-Blue-Book-Electrified-Vehicle-Sales-Report.pdf.

For extra data and information from KBB.com for the Kelley Blue Ebook, go to www.kbb.com/media/Observe us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/Twitter in www.twitter.com/kelleybluebook (or kelleybluebook), like our Fb web page at www.facebook.com/kbb And observe us on Instagram at https://www.instagram.com/kbb_com/ (or kbb_com).

About Kelly Blue Ebook
Based in 1926, Kelly Blue Ebook, Trusted Provider®, is the automobile analysis and data supply trusted and trusted by each shoppers and the auto business for almost a century. As an business customary for generations, the Kelley Blue Ebook supplies clear, goal data and progressive data-driven instruments to shoppers, auto sellers and producers. The corporate publishes tens of millions of market reflective values ​​weekly on its top-rated web site, KBB.com, from its well-known Blue Ebook.® Commerce Values ​​for Kelly’s Blue Ebook® The Value Advisor device, which supplies a variety of what shoppers can fairly anticipate to pay for a automobile of their space. KBB.com editors consider and overview a whole bunch of recent automobiles annually to assist shoppers perceive best cars And the The best SUVs to fulfill their wants. Kelly Blue EbookSM Instantaneous Money provides a refundable trade supply to transaction prepared shoppers and simply connects them with collaborating native retailers. A Kelley Blue Ebook service advisor supplies steering on how a lot to pay for service and repairs, permitting shoppers to schedule service with native sellers at KBB.com. The corporate additionally supplies automobile values ​​to finance and insurance coverage firms in addition to authorities companies. Kelley Blue Ebook is a trademark of Cox Automotive.

About Cox Automotive
Cox Automotive Inc makes shopping for, promoting, proudly owning and utilizing automobiles simpler for everybody. The corporate’s world workforce has greater than 27,000 members and household of manufacturers, together with Autotrader®Seller.com®Dealertrack®Kelly Blue Ebook®Mannheim®NextGear Capital®VinSolutions®vAuto® and Xtime®We’re keen about serving to tens of millions of auto consumers, 40,000 auto vendor prospects throughout 5 continents and plenty of others throughout the automotive business thrive for generations to come back. Cox Automotive is a subsidiary of Cox Enterprises Inc. , which is a privately owned firm, AtlantaAn organization-based firm with annual revenues of roughly $20 billion. www.coxautoinc.com

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