U.S. Electric Vehicle Registrations Double Driven by ZEV States
New electric vehicle registrations in the U.S. double compared to the previous year, reaching 208,000 units. California and other Zero Emission Vehicle states lead this rapid market expansion.
New electric vehicle registrations in the U.S. reach 208,000, which is more than double the number from 2017 according to IHS Markit. This rapid growth concentrates heavily in California and nine other states that adopt the Zero Emission Vehicle program. California alone accounts for nearly 46 percent of these new registrations and holds a 59 percent share of all registered electric vehicles in the country.
Analysts project this upward trend to continue as automakers introduce a rapid increase in new EV nameplates. The Tesla Model 3 currently leads all-electric sales, followed closely by the Chevy Bolt and other Tesla models. Traditional automakers and startups like Rivian are preparing to roll out multiple models built on dedicated EV platforms rather than just a single vehicle.
Customer loyalty for electric vehicles is also rising, with 55 percent of EV owners who return to the market choosing another electric vehicle. Despite this strong growth, electric vehicles still represent a tiny fraction of the total U.S. automotive market. IHS Markit expects EVs to capture a 2 percent market share by 2020 and grow to a 7 percent share by 2025 as over 1.1 million vehicles are sold annually.