U.S. Electric and Hybrid Vehicle Sales Hit Record in Q3 2024
Electric and hybrid vehicles continued their climb in popularity, making up 19.6% of new light-duty vehicle sales in the U.S. during Q3 2024, according to Wards Intelligence. This is up from 19.1% in the previous quarter, driven by record hybrid vehicle sales, which now account for 10.8% of the market. Key Highlights BEV Costs and Incentives The average price for a battery electric vehicle in Q3 was $56,351, about 16% higher than the industry average. Federal tax incentives remain a key factor, but strict requirements for U.S.-based…