Electric vehicle market share rises
SACRAMENTO, CA – The California new vehicle market declined 2.7 percent during the first nine months of this year, while the U.S. market was essentially unchanged.
According to the California Auto Outlook Third Quarter 2018, California light truck sales continue to increase, by 5.2 percent from 2017, while passenger car registrations have fallen by 10.6 percent below this time last year. While California sales reflect the national preference for light trucks over passenger cars, the trend is more pronounced across the country with US light truck sales increasing by 7.6 percent and US passenger car sales falling by 13.2 percent. The outlook was released November 20.
The California new vehicle market declined for the sixth consecutive quarter in 3Q 2018 versus a year earlier, down 3.6% year to date.
“While California new vehicle sales are expected to be slightly below 2 million units this year, we continue to be encouraged that California sales are steady and remain at elevated levels. Even if the market is slightly declining, we need to keep perspective that this is a natural trend for a market that has seen significant, consistent growth over the course of several years,” said California New Car Dealers Association Chairperson, Taz Harvey of Dublin Mazda
YTD through September light truck registrations in the state increased 5.2 percent, while passenger cars fell 10.6 percent.
Light truck market share in California was 54.5 percent vs. 68.2 percent in the Nation.
The electric vehicle market share continues to increase throughout the state, making up 11.2 percent of the market, year to date. This is a 4 percent increase during the first nine months of 2018. However, not every powertrain is seeing this increase, hybrid vehicles continue to see a decline year over year, from 4.6 percent in Q3 2017 to 4.1 percent year to date.
Additionally, 13 of the top 20 brands in California saw light truck sales increase, paced by Volkswagen with an increase of more than 100 percent compared to this time last year.