March 1, 2024

People who buy electric vehicles (EVs) really like them, according to U.S. vehicle registration data, which shows most EV owners tend to buy an EV for their next car, too.
Why it matters: The data reveals a growing embrace of electric cars as automakers and the federal government pour billions of dollars into EV and battery production.
What's happening: Axios is tracking the historic shift away from gasoline by examining vehicle registration data from S&P Global Mobility. Here's a peek at the latest data:
The big picture: The U.S. lags China and Europe when it comes to EV adoption, but the market is clearly shifting.
Where it stands: Tesla's Model Y and Model 3 continue to dominate. Those two models alone accounted for 51% of all new EV registrations in July (the latest available month).
Yes, but: As rivals introduce new models, Tesla's U.S. market share will inevitably shrink as the overall pie grows. In fact, that's already happening.
Between the lines: EVs accounted for 5.8% of all new cars registered nationally in July, up from 3.4% a year ago.


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