U.S. EV sales are growing, but not enough to offset gasoline cars. That’s because sales of those vehicles are growing faster, according to a new report.
Experian’s Automotive Market Trends report for the third quarter of 2023 showed that while electric cars now account for a larger share of the U.S. vehicle fleet than they did a few years ago, the size of that fleet has grown overall—with gasoline cars accounting for most of that growth.
Despite EVs growing from a quarter of a percent of the U.S. fleet in 2019 up to more than 1% of the fleet today, that hasn’t been enough to offset the growth of gasoline models.
