- U.S. EV and PHEV buyers opt for small SUVs more so than any other class of vehicle
- Standard-size SUVs come in a close second
- Midsize cars are popular among pure EV buyers
According to the U.S. Department Of Energy, in 2023, SUVs were the leading choice among BEV and plug-in hybrid buyers. Though that's not really surprising these days, it would've been near impossible back in the early days of EVs and PHEVs when most of the offerings were compact sedans and hatchbacks.
What this really tells us is that there is now a wide offering of EVs and PHEVs that span across basically every class of vehicle, including SUVs and trucks. Regarding BEV sales in 2023, small SUVs came in first at 40.4% share, followed by midsize cars at 21.2% (likely led by the Tesla Model 3) and then standard SUVs at 12.2%, followed by small station wagons at 11.7% and large cars at 8.3%.
The Department of Energy notes the following:
"In 2023, SUVs made up over half of all battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) sales.The small SUV category had the highest sales, but combined with the standard SUV category, SUVs overall accounted for 53% of BEV sales and 83% of all PHEV sales."
Check out the graphic below for more breakdowns by vehicle class and type. Interestingly, the DoE lists a plug-in hybrid truck category with an 8.1% share of PHEV sales. A PHEV truck did not exist in the U.S. market in 2023, so there must be a mistake. Perhaps that 8.1% is captured by a standard hybrid truck like the Ford F-150 Hybrid.
We expect to see a significant uptick in BEV truck sales in 2024 now that several models, including the Tesla Cybertruck, are selling in volume. Additionally, both Chevy and GMC entered the segment, and cheaper versions of most electric pickup trucks are either making their way to market now or will be in the near future.
Which BEV and PHEV segments do you think will gain the most ground in 2024? We do expect to see an overall rise in PHEV sales this year, but which class of vehicle will be the driving force behind this remains unclear right now. Most likely, the small SUV class will rise above 50%.
According to the U.S. Department of Energy, vehicle class sizes are defined below. According to this classification, a small SUV is anything weighing under 6,000 pounds. A standard-size SUV is a vehicle that weighs between 6,000 and 9,999 pounds. The Tesla Model Y falls into the small SUV classification and is undoubtedly the vehicle responsible for most of the BEV sales in that class. However, many newcomers, including the Chevrolet Equinox, Chevrolet Blazer, Honda Prologue and others, are now capturing a solid share in the small SUV BEV segment.
