Fortunately, DeGraff said, “that list is much longer now, as more automakers have tapped into the growing need and consumer demand for electric vehicles.” They also harnessed much larger batteries for longer rides on a single charge.
The compact crossover electric vehicle segment now includes the Tesla Model Y, Ford Mustang Mach-E, Volkswagen ID4, Hyundai Ioniq 5, Kia EV6, Audi E-tron, Volvo XC40, Polestar 2 and Jaguar I-Pace.
Ford is launching the F-150 Lightning pickup this year, Chevrolet is following with the Silverado EV pickup next year, and Tesla’s Cybertruck pickup could arrive by 2023.
The new wave of electric vehicle models is finding consumers eager to join waiting lists for hot new products.
According to data from financial services firm Experian, electric vehicle registrations rose 91% last year to 481,677. Edmunds estimates electric vehicle sales will hit a record 600,000 vehicles in the United States this year for a market share of 4%.
Tesla still dominates the EV market, but Edmunds expects its EV market share to fall to 46% this year, from 71% last year, as consumers are drawn to vehicles such as the F -150 Lightning and the models to be launched soon come new. like Cadillac and Genesis.