📈EV & Hybrid Market Q2 2024: US EV & Hybrid Market Share Hits 18.7%

August 27, 2024

Happy Tuesday!  Today in the EV world, we cover:

• Electric and hybrid sales increased in Q2

• China's BYD beats Honda and Nissan

• Canada imposes a 100% tariff on imports

• Car and Driver’s EV of the year

• Volvo’s 90/90 Day is coming

• A review on the Porsche Taycan Turbo GT

Click, scroll for more, and subscribe! 

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1. In the second quarter of 2024, the U.S. market share for electric and hybrid vehicles increased to 18.7%, with the average transaction price for battery electric vehicles averaging $56,371.

2. In Q2 2024, BYD's vehicle sales surged 40% to 980,000 units, surpassing Honda and Nissan, becoming the world's seventh-largest automaker and closing in on Ford, while also tripling its overseas sales to 105,000 units.

3. Canada announced a 100% tariff on Chinese-made EVs, aligning with U.S. tariffs imposed due to alleged unfair subsidies, while also introducing a 25% tariff on Chinese steel and aluminum.

4. The 2024 EV of the Year award, tested through rigorous evaluations, was won by the Hyundai Ioniq 5 N, a thrilling EV that combines sports car performance with nostalgic driving sensations, standing out among 18 contenders.

5. Dahua Technology has launched D-Volt, an innovative and sustainable EV charging solution offering fast, precise, and reliable charging for both home and commercial use.

6. Join Volvo on September 4 at 9:00 AM ET for a livestreamed 90/90 Day event where Volvo will unveil the fully electric EX90.

7. The 1917 Rauch & Lang JX7 Electric is a meticulously restored, early electric vehicle that showcases the advanced engineering and innovation that contributed to the foundation of the modern electric car revolution.

8. A fire at Rivian's Normal, Illinois factory damaged over 50 R1S and R1T EVs awaiting shipment, but the factory itself was not affected, and the cause of the fire is under investigation.

9. EV Connect's partnership with BlueSnap introduces a comprehensive payment processing solution for EV charging networks, offering streamlined integration, competitive pricing, and enhanced support to accelerate global expansion and revenue collection.

10. VinFast's VF9 electric SUV, now starting at $71,000 for the Eco trim, will begin arriving at dealerships in September.

Taycan Turbo GT Review

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