US Electric Vehicle Market Poised for Record Sales in 2021, According to Edmunds – PRNewswire

Edmunds analysts anticipate that 30 EVs from 21 brands will become available for sale this year, compared to 17 vehicles from 12 brands in 2020. Notably, this will be the first year that these offerings represent all three major vehicle categories: Consumers will have the choice among 11 cars, 13 SUVs and six trucks in 2021, whereas only 10 cars and seven SUVs were available last year. For the full list of EVs expected to come to market in 2021, please see the table below.

This diverse spread of EV offerings should help encourage stronger loyalty among EV owners, which has dwindled over the years as shoppers have gravitated toward larger vehicles. According to Edmunds data, 71% of EV owners who didn't buy another EV traded in their vehicle for a truck or SUV in 2020, compared to 60% in 2019 and 34% in 2015.

"Americans have a love affair with trucks and SUVs, to the detriment of EVs, which have until recently been mostly passenger cars," said Caldwell. "Automakers should have a much better shot of recapturing some of the EV buyers who they've lost now that they can offer larger, more utilitarian electric vehicles."

Edmunds analysts note that this infusion of fresh new products comes at a time where the market is also seeing a positive shift in consumer interest in EVs. According to Google Trends data, consumer searches for electric trucks and SUVs have recently hit a high point after trending upward for years.

"Besides affordability, one of the biggest barriers to increased EV sales has simply been tepid consumer reception — it's been tough for companies that aren't Tesla to crack the code of how to get shoppers hyped up for these vehicles," said Caldwell. "But in the past year we've seen automakers throw huge advertising dollars behind their EV launches in an attempt to drum up some buzz, and it's promising that consumers seem to at least be more aware of the options out there."

As more consumers look to EVs as a possibility for their next car purchase, Edmunds experts emphasize that shoppers should take extra time to consider their alternatives and do their research.

"Buying an EV is an entirely different beast than a traditional car purchase, so extra research and diligence are key," said Ivan Drury, Edmunds' senior manager of insights. "Range and weather conditions play a huge factor in determining whether certain EVs make sense for your everyday needs, and whether you own a home with a garage or rent an apartment could affect your charging situation. Federal and state tax incentives are at play with these purchases. And with a number of manufacturers following Tesla's direct sale model, there might not be opportunities to take a test drive, or even to trade in your current vehicle, like you would at a traditional dealership."

To help consumers, the Edmunds experts have put together a comprehensive analysis of the true cost of powering an EV, and they also maintain an authoritative EV rankings page that highlights the best electric vehicles currently in production.

Electric Vehicles Expected to be Available for Sale in 2021

Model Year

Make

Model

Vehicle Category

2021

Atlis

XT

large truck

2021

Audi

e-tron

luxury midsize SUV

2021

Audi

e-tron Sportback

luxury midsize SUV

2021

BMW

i3

luxury subcompact car

2021

Chevrolet

Bolt EV

subcompact car

2021

Ford

Mustang Mach-E

midsize SUV

2021

Hercules

Alpha

large truck

2021

Honda

Clarity

midsize car

2021

Hyundai

Ioniq Electric

compact car

2021

Hyundai

Kona Electric

subcompact SUV

2021

Kia

Niro EV

subcompact SUV

2021

Lordstown Motors

Endurance

large truck

2021

Lucid

Air

luxury large car

2021

Mercedes-Benz

EQC

luxury compact SUV

2021

Mini

Hardtop 2 Door

sports car

2021

Nissan

Leaf

compact car

2021

Polestar

2

luxury midsize car

2021

Porsche

Taycan

luxury large car

2021

Rivian

R1S

luxury large SUV

2021

Rivian

R1T

midsize truck

2021

Tesla

Cybertruck

large truck

2021

Tesla

Model 3

luxury compact car

2021

Tesla

Model S

luxury large car

2021

Tesla

Model X

luxury large SUV

2021

Tesla

Model Y

luxury compact SUV

2021

Volvo

XC40 Recharge

luxury subcompact SUV

2021

VW

ID.4

compact SUV

2022

Chevrolet

Bolt EUV

compact SUV

2022

GMC

Hummer EV SUV

large truck

2022

Nissan

Ariya

compact SUV

About Edmunds
Edmunds
 guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.

CONTACT:
Talia James-Armand
Associate Director, PR & Communications
[email protected]
310-309-4900
http://edmunds.com/about/press

SOURCE Edmunds


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