EV Sales Jump by 31 Percent till August 2017

EV Sales Jump by 31 Percent till August 2017

Electric vehicle sales increased by 31 percent across the United States for the data compiled till August 2017. As per InsideEVs report, 120,500 plug-in vehicles have been sold in the U.S. market till August 2017 compared to nearly 92,000 vehicles sold till August 2016.

Sales for EVs have been strong in July and August 2017. During August, a yearly jump of 14 percent has been witnessed while the sales were higher by 20% y-o-y during July 2017. Chevrolet Bolt EV has managed to generate impressive sales.

Tesla Model 3 has registered strong bookings. However, Tesla has a challenge to deliver the vehicles as promised. Elon Musk has indicated that Tesla Motors is committed to reach delivery estimates but the actual data for the past years has remained lower than estimates of the company.

Tesla Model 3 would improve the sales data from October onwards. As per industry reports, Tesla could produce nearly 20,000 Model 3 by December 2017.

Chinese authorities have taken a few steps in order to boost electric vehicle market in the largest Asian economy. It is yet to be seen, how many multinational automobile companies will be able to get a share in the Chinese market. It is quite likely that local automobile brands in China will gain in the latest push by the Chinese government for electric vehicles.