NEW RECORD FOR ELECTRIC VEHICLE SALES

During the second quarter, sales of battery electric vehicles (EVs) (including hybrids and fuel cell vehicles) increased 13% over the first three months of 2022, according to a report released by Cox Automotive. This is a 12.9% surge compared to the same period last year.

Although Tesla was the best-selling luxury brand in the U.S., beating out Audi, Lexus, Mercedes, etc., its share of the EV segment is down 9%, due to new models entering the market.

In 2021, 19 EV models were on sale in the United States. By 2022, that number has grown to 33. The Jeep Wrangler 4xe was the best-selling plug-in hybrid vehicle and the Hyundai IONIQ 5 was the most popular new entrant.

About 55% of all hybrids sold were sold by Toyota and Lexus dealerships.