Two reports this month are shedding light on the trajectory of the U.S. electric vehicle market, which has been challenged because of stalling consumer interest and a lack of available charging stations.
The first from Rho Motion, a London-based electric vehicle research firm, found that domestic EV and hybrid sales in the first quarter grew 11 percent compared to the same period last year, a much slower rate of growth than in 2023.
The market analysis concluded that while U.S. consumers continue to make the switch to EVs and hybrids, the pace of adoption is far below what is needed for the country to reach the Biden administration’s goals for the technology.
“We are at a crucial point in the EV adoption curve, with many early adopters having already purchased an EV and the majority of consumers starting to see a future driving an EV,” said Albert Gore, executive director of the Zero Emission Transportation Association (ZETA), an industry coalition representing battery electric vehicle manufacturers and suppliers. ZETA was not involved with Rho Motion’s report.
