Electric car sales shine in Q1 2022 – TechCrunch

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US automaker sales for the first three months of the year could portend the arrival of the battery electric era sooner than expected. The only brands to post sales gains were all-electric.

Sales of electric vehicles soared during the first quarter of 2022, mainly due to the launch of new nameplates. Meanwhile, the industry as a whole reported a 15.3% drop in new vehicle sales, to 2,516,236 units, according to figures from Autodata Corp.

Tesla and Polestar reported particularly strong first-quarter sales increases in the United States, compared to the same period a year ago. Even Karma, an electric vehicle company that has struggled to gain traction in recent years, sold 60 vehicles for the quarter, down from 14 a year ago. BMW, the only outlier, saw modest growth thanks to increased demand for its large utility vehicles and its recently redesigned 4-Series sports car.

Industry-wide sales figures released on Friday show sales fell double-digits for all other brands except Hyundai and Kia, which suffered only single-digit declines . Headwinds facing the industry include rising gas prices and a shortage of inventory given supply chain and production disruptions due to COVID-19 and the Russian invasion of Ukraine. which began on February 24.

The electrified portfolios of traditional automakers marked a bright spot in a struggling market. Ford, which said in March it would separate operations of its electric vehicles and gasoline-powered vehicles, reported a record 37.9% increase in electric vehicle sales in the first quarter over the same period. last year.

Hyundai posted a particularly strong result, selling 6,244 Ioniq 5 electric vehicles in the first quarter, compared to 153 in the fourth quarter of 2021. Kia, which started selling the EV6 in the first quarter, said that 5,281 electric vehicles were sold to United States in the first quarter, according to Autodata. GM sold 99 of its new Hummer EVs compared to one in the fourth quarter of 2021.

Tesla, the 800-pound gorilla of electric vehicle companies, saw U.S. sales rise 87.2% to 129,743 units, compared to the same quarter last year. Tesla’s global sales for the quarter hit a new record, despite idling its Gigafactory Shanghai twice in March to comply with government mandates to stop the recent COVID-19 outbreak. Consumer interest in electric vehicles drove all of Tesla’s models, but the Model Y compact crossover led the increase.

Polestar sales soared 1,179.7% to 1,510 units, from 118 units the company sold in the first quarter of last year, due to the arrival of the Polestar 2 luxury sedan.

Even though EV volumes are low and due to the increased production of EV brands in their factories, the overall trend points to a drastic shift in consumer demand.

Lucid and Rivian delivered 460 and 720 vehicles, respectively, in the first quarter of 2022, according to Autodata.

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