U.S. EV sales skyrocket after sustained rise in gasoline prices

There is no doubt that electric vehicles are here to stay. Recent studies have shown that sales of electric vehicles in the market have grown by 200%. The availability and variety of options for this type of car tipped the scales in their favor.

As Americans hit the road after tight lockdowns and a host of pandemic-related restrictions, again and again as gas prices rise, drivers are starting to think about buying a more fuel-efficient car.

200% increase in sales of electric vehicles

Reliable data from Kelley Blue Book and Cox Automotive confirm this development. On Monday, the two groups published data for the second quarter of 2021 shows that electric vehicle sales are up 200% year-over-year..

"Electrified" vehicles include hybrids, plug-in hybrids, and full battery electric vehicles (also known as EVs). However, with some onboard electrification, the vehicle becomes more efficient.

It's also a good reminder to say so, as it could have something to do with boosting EV sales. If a standard vehicle like the Toyota RAV4 isn't immediately available, but the RAV4 Hybrid is, it might have something to do with it.

Electric vehicles as a new market preference

However, data shows that people buying cars prefer electrification. U.S. electric vehicle sales topped 100,000 vehicles for the first time in the second quarter, and hybrid vehicle sales topped 250,000 vehicles.

Breaking down these numbers into percentages, electrified vehicles accounted for 8.5% of all new vehicle sales compared to 7.8% in the previous quarter.. It's not a very big comparison knowing where the United States was amid the coronavirus pandemic, but in the second quarter of 2020, electrified vehicles accounted for just 4.2% of sales.

The variety of electrical options is also an important factor.

However, some of the growth in EV sales can certainly be attributed to the sheer number of options available to buyers. In some cases, a hybrid transmission is the only option.

Comes standard with hybrid power. In terms of electric vehicles, and to provide customers with options outside of Tesla at competitive prices for the segment. Indeed, these newcomers may crack open Tesla's dominance. KBB showed that Tesla's share of the electric vehicle market fell from 71% in the first quarter to 64% in the second. Tesla held a whopping 83% of the market last year.

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