EV Sales Growth Lags Behind Available Inventory
GRAND RAPIDS, Mich., Oct. 19, 2023 /PRNewswire/ -- As automotive manufacturers ramp up electric vehicle production to meet aggressive government targets, sales are not keeping pace with current inventory levels, causing EV days-to-move to more than double. In addition, while Tesla is firmly entrenched as the EV market share leader, no other manufacturer has emerged as a strong number two.
- "EV sales are rising but are not keeping pace with EV inventory growth.
- Cloud Theory found EV inventory has nearly doubled from 3% of available new vehicle inventory in January 2023 to 6% in September 2023.
- In the same timeframe, EV sales have gone from 3% of vehicle market share in January to 4% in September.
- Download the entire 40 page report HERE , which includes detailed insights into the current leading OEMs in the EV market.