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Electric Vehicle Share in the US Reaches Record Levels in 2020, according to IHS Markit


Solar Asset Management Predictions for 2021While overall registration volumes were down across the industry for the year due to COVID-19 impacts, the fact that EVs experienced such increased share indicates rising consumer acceptance of EVs. In fact, from a retail perspective, EVs accounted for 2.8% of new vehicle registrations in December, according to the analysis, more than tripling EV retail share three years ago. This rising EV acceptance coincides with recent OEM announcements of substantial investments in electrification.
Further development of EV share in the US in 2021 is nearly guaranteed. IHS Markit forecasts EV sales in 2021 will surpass 3.5% nationally, and continue to increase to more than 10% in 2025. Across the automotive spectrum, a wave of new EV products and brands all point to support EV trends in 2021 and beyond. With more than 100 new EV options expected between 2021 and 2025, a continued increase in consumer acceptance and demand will grow as ICE opti ....

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