Posted 4/11/2024, 8:47:55 PM
EV Sales Growth Slows in Q1 2024, But Full-Year Record Still Expected
- EV sales growth slowed in Q1 2024, rising just 2.6% year-over-year compared to 46.4% growth in Q1 2023
- Tesla EV sales dropped 13.3% year-over-year, the first downturn for the market leader
- 9 automakers saw 50%+ EV sales growth, including BMW, Mercedes, Ford
- Average EV transaction price fell over 9% to $55,167 as automakers cut prices to boost demand
- Cox Automotive forecasts full-year 2024 EV sales will still set a new record, reaching 10% share