The sales numbers for the US auto industry at the end the first half of 2024 show strong gains as the hangover from Covid-related supply chain issues seem finally to be in the rear view mirror. GM said it delivered 696,086 vehicles, including EV models, in the US in the second quarter of 2024, and 1,290,319 total vehicles in the US in the first half of 2024.
GM was happy to report that its EV sales were robust so far this year with 38,355 sold, 21,900 of those coming in the second quarter. The Cadillac Lyriq saw a 26% increase in sales in the second quarter, outselling every European brand EV in the US. The all-electric Hummer saw sales jump 76% in the second quarter as well. The Chevy Blazer EV and Chevy Equinox EV are now in showrooms and ready to add to the company’s electric car sales over the remainder of this year.
The modest near term growth gives way to a much stronger momentum as new more affordable EV models are launched by Ford, Rivian, and Tesla, while the local manufacturing capacity of automakers like Hyundai, BMW, or Toyota is ramped up. By 2027, US EV sales are seen rising to 4.5 million units, against less than 1.5 million last year. EVs are projected to reach 48% of new passenger vehicle sales by 2030, almost meeting President Biden’s target of 50%. This means sales of about 7.
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