Is the Chip Shortage a Perfect Opportunity for BEV Growth in the U.S.?

Is the chip shortage a perfect opportunity for BEV growth in the U.S.?

Source: LMC Automotive

Battery electric vehicle (BEV) sales in the US and Canada have been on fire this year. BEV sales are typically slow at the start of the year and pick up in the spring, but nothing has really been ‘typical’ since March 2020. In the first five months of this year, BEV sales accounted for 2.5% of the US market and an even higher 3.1% share of the Canadian market.

Are we finally entering a phase of higher BEV demand? We have seen a range of new vehicles across different segments and sizes enter the market, with more in the pipeline. Sales of the Tesla Model Y have soared, following a pandemic-hampered launch, and the model has been joined by the Ford Mustang Mach-E, Volkswagen ID.4 and Volvo XC40 Recharge, among others.

Click here for the full report from LMC Automotive.

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