Electric Vehicles Lose Market Share in the U.S. as Sales Decline

Hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles made up 18% of all new light-duty vehicle sales in the first quarter of 2024, down from an 18.8% share in the fourth quarter of 2023. Battery electric vehicle (BEV) sales fell for the first time since the onset of Covid in 2020, the Energy Information Administration (EIA) said on Tuesday, citing estimates from Wards Intelligence. This slight decline in the EV market share was driven primarily by a drop in BEV sales, which declined from 8.1% of the total light-duty…