“Last days of the Ice Age:” Tesla dominates as EVs grab bigger share in US

Tesla has completely dominated the latest data on electric vehicle sales in the United States, accounting for more than four out of five new EV sales as the share of EVs in the world’s biggest economy continues to grow.

In a note with the headline “Last days of the Ice Age”, in reference to the declining sales of internal combustion engine vehicles, Morgan Stanley notes that the seasonally adjusted annual rate of new vehicle sales at the end of November was 15.9 million vehicles, a decline of 2.8 per cent when factoring in the number of selling days.

But while overall car sales are down, the number of full battery EV sales has surged 40.6 per cent, and its market share has jumped from 1.5 per cent to 1.8 per cent in terms of volume, and likely much more than that in terms of value.

And the increase in battery EVs is almost entirely due to Tesla, which increased its dominance of the market from 76 per cent to 81 per cent, as its sales rose 36 per cent year on year, while the rest of the EV market managed an increase of just 1 per cent.