Electrified vehicle sales grew in August for numerous automakers—even as the trickiness of the electric transition prompted some companies to walk back their plug-in plans.
Total new-vehicle sales in August were expected to be up 4.2% YoY, adjusting for this August having more selling days, according to a forecast by JD Power and GlobalData.
Diving into sales data from the automakers that report on a monthly basis, sales of battery-electric, plug-in hybrid, and gas-electric hybrids were up across much of the industry.
For example: Electrified vehicle sales helped boost American Honda’s August sales 25% YoY. The month brought an all-time sales record for the Japanese automaker’s hybrid and battery-electric models in the US, per a news release.
The Honda brand offloaded 35,886 electrified vehicles, led by sales of hybrid versions of the CR-V and Accord. Its Prologue EV, meanwhile, had its best sales month since launching earlier this year.
Hyundai Motor America reported 22% YoY sales growth in August. Record sales of electrified models—including the electric Ioniq 5, Tucson plug-in hybrid, and Santa Fe hybrid—helped boost results, according to a news release.
The brand reported that retail hybrid sales grew 81% YoY, while retail EV sales were up 27%.
Sister brand Kia America also reported strong results, noting in a news release that its retail sales outperformed every other month in the company’s history. Kia reported that its all-electric EV9 SUV helped propel EV sales 27% higher than the same period last year. Plug-in hybrid sales rose 43% YoY. Overall, sales of electrified models grew 9%. Of the brand’s more than 75,000 sales last month, 18% were hybrids or EVs.
Ford reported that its sales were up 13.4% from the same period last year. EV sales grew nearly 29%, while sales of hybrid models were up nearly 50%. Sales of combustion engine vehicles, while still making up the vast majority of overall sales, grew nearly 10%.
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Automakers increasingly have been leaning into hybrids as a solution to meet tightening emissions regulations, give EV-hesitant customers an alternative, and work out the kinks in the electric transition. Consumers, meanwhile, have been snapping up gas-electric models.
Despite continued growth in EV sales, the industry has been pulling back on planned EV investments and launches amid slower demand, growing competitive pressures, and challenges turning profits on battery-powered vehicles.
Volvo earlier this month became the latest to announce it was pumping the brakes on its transition to battery-electric vehicles. The Swedish automaker said that rather than fielding an all-electric lineup by 2030, hybrids would continue to be part of its portfolio.
Volvo reported that its US sales were down 2.1% YoY in August, but that sales of electrified models grew 47.1% and made up nearly 38% of total sales.
Elizabeth Krear, VP of JD Power’s EV practice, noted in a statement that the data provider’s EV index, which tracks “the path to parity of EVs with gas-powered vehicles,” hit a historic high score in July. Still, despite interest in EVs ticking up in July, affordability improving, and more models being available, she noted that the industry “seems to be struggling to attract more buyers than a year ago.” Sales of battery-electric models continue to capture just over 9% of the retail market.
“While infrastructure remains insufficient, customer satisfaction with charging in the second quarter improved for a second consecutive quarter,” Krear said. “An increase in the transition to EVs will take time, with several interdependent variables affecting adoption, but the foundation is growing as consumers try to match vehicle options with their lifestyle.”