The electric vehicle transition has firmly taken root in the United States, with Louisiana lagging well behind, according to a new report from an auto manufacturing trade association.
The latest market data from the Alliance for Automotive Innovation shows EV sales nationwide during the second quarter of 2024 have reached their highest volume ever recorded with 386,000 sales. That’s out of an estimated total of 4.1 million new vehicles sold during the three-month period, according to figures from manufacturers.
For the entire first half of 2024, automakers sold more than 730,000 EVs, which include fully electric, hybrid and fuel cell electric cars. The report based much of its analysis on vehicle registration data from the U.S. Energy Information Administration and S&P Global Mobility.
The quarterly sales figure represents nearly 10% of new car sales during the period, which is up from 9.3% during the first quarter and 9% during the same period last year, according to the report.
Electric vehicles now claim 22% of the U.S. automotive market — compared to just 3% in 2016. At the same time, the market share for gas and diesel vehicles has been steadily declining since 2016.
However, like many other state-by-state rankings and metrics, Louisiana remains far behind its peers with an EV market share of only 1.83%, ranking 49th in the country. Only Mississippi (1.72%) and North Dakota (1.62%) saw a smaller share of EV sales in the second quarter.
While EVs have created an economic boon in other states, many of Louisiana’s political leaders have expressed fear of the energy transition and have taken policy positions that hamstring the industry. Since 2020, automotive and battery manufacturers have invested $125 billion into the EV sector and created 114,000 jobs across 18 states, according to the report.
More than one-quarter of new vehicle sales in California from March through June were electric vehicles. EV buyers accounted for nearly 20% of new auto sales in Washington, D.C, and Washington state during the same period.
Despite Louisiana’s low market share, EV sales in the state are still trending upward, representing 1.9% of new car sales during this year’s second quarter, which is a 1.8% jump from the first quarter and a 1.6% jump from the same period last year.
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The slow pace of adoption in Louisiana has had the unintentional effect of allowing public EV charging infrastructure to catch up in the state.
Almost 2,700 DC fast chargers, which can fully charge an EV battery in as little as 20 minutes, were installed across the U.S. during the second quarter of 2024. According to the report, there are now roughly 29 EVs for every public car charger.
In Louisiana, there are a total of 265 DC fast chargers, 29 of which were added during the second quarter. This equates to a ratio of 18 EVs for every public port in the state, which ranks Louisiana as the 16th best for charger-to-car ratio.
The inflationary pressures that drove up new EV sales prices during 2022 have largely subsided. The average EV transaction price of $56,000 is about 2% lower than it was at the beginning of the year and about 18% lower than it was two years ago. Electric vehicle prices, overall, are about 16% higher than that of the average car, according to the report.
While EVs were once dominated by funny-looking compact passenger cars, they now come in a variety of shapes and sizes. Manufacturers continue to introduce new models to satisfy a variety of consumer needs, including sport utility vehicles, pickup trucks, minivans and sports cars. During the second quarter of 2024, SUVs, pickups and minivans comprised 84% of the EV market — a 10 percentage point increase over the same period last year.
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Publish date : 2024-10-11 14:49:00
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