BMW and Mercedes Witnessed Electric Vehicles Account for 15% of Their Q3 2023 Total Sales in the U.S.

    In a recent study of all-electric car sales, we focused on analyzing the share of battery electric vehicles (BEVs) out of the total sales of various automakers. This metric gives us a better understanding of how advanced each carmaker is in their electrification journey. Let’s take a closer look at the results for the third quarter of 2023 and the first nine months of the year.

    Premium brands like BMW and Mercedes-Benz had the highest BEV shares in the U.S. market during Q3. BMW led the pack with 15.6% of their car sales being all-electric, closely followed by Mercedes-Benz with a 14.7% share. Other notable premium brands included Audi (12.7%), Volkswagen (12.2%), Porsche (10.3%), and Volvo (10%).

    The industry average for BEV share among non-Tesla brands was estimated at around 7-8%, thanks to Tesla’s significant market share of approximately 4%. Among the mainstream brands, Volkswagen stood out with a 12.2% BEV share. Hyundai achieved at least 8.3% BEV share, while its sister brand Kia reached 4.8%.

    Ford and Chevrolet slightly exceeded the industry average for established brands, with 4.4% and 3.5% BEV shares, respectively. However, it’s important to note that their high proportion of pickup truck sales, which have low electrification rates, impacts the overall result. Nissan, once a pioneer in the all-electric car market, fell below the average with a 3% BEV share. Toyota’s BEV share was merely 0.5%, but it’s worth mentioning that the company has primarily focused on non-rechargeable hybrids (HEVs) with a small addition of rechargeable hybrids (PHEVs).

    Moving on to the analysis of Q1-Q3 2023, Mercedes-Benz led the pack with a 14.1% BEV share, followed by BMW (12.2%) and Volvo (11.8%). Notably, the Volkswagen brand achieved an 11.7% share, while other brands like Audi (10.5%), Porsche (9.3%), and Genesis (8.6%) also showcased significant BEV shares. Hyundai stood out among the rest with at least a 5.6% BEV share.

    Chevrolet and Ford recorded a modest 3.8% and 3.2% BEV share, respectively, indicating that they have some catch-up work to do to match Hyundai’s performance. Toyota’s BEV share remained far behind at 0.5%, primarily due to its focus on non-rechargeable hybrids.

    Looking ahead to 2024, we expect the first traditional brands to achieve a 20% share of all-electric car sales, while mainstream brands should aim for 5-10%, with Volkswagen already surpassing this goal.

    For a more detailed breakdown of sales results for individual brands, please refer to our previous reports.

    (Note: This rewritten article has been condensed and formatted for readability while retaining the main information from the original source.)

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