"Car dealers, politicians and skeptics like to say that consumers don't want electric vehicles. But that's hard to square with the fact that the Tesla Model Y was, in 2023 at least, the best-selling car in the world, while the Model 3 routinely trounces its gas-powered competition in sales. They've all just missed the point of why those things were successful. People want EVs; they just won't buy uncompetitive models. And the American market is full of those right now."
"Some recent Cox Automotive data covered by The Street caught my eye: the U.S. market had 90 EV models available in the third quarter. In theory, that's great for consumer choices and competition. But in reality, only 10 nameplates sold more than 10,000 units. For reference, the best-selling vehicle in the country, the Ford F-Series, sold 207,732 units over that time period, so we're talking about a still-small pool of buyers. Many mainstream gas crossovers easily sell more than 10,000 units per quarter."
"But the fact that EV sales are so heavily concentrated among a few models, even when nearly all carmakers have expanded their lineups, speaks volumes about the strength of those overall products. And perhaps it proves that automakers would have been better served by focusing on the strength of core models, rather than aiming to replace their whole lineups with EV options."
EV demand exists but sales concentrate heavily among a few competitive models such as the Tesla Model Y and Model 3. The U.S. market offered 90 EV models in Q3, yet only 10 nameplates sold over 10,000 units, leaving a small buyer pool compared with top-selling gas vehicles like the Ford F-Series. Many mainstream gas crossovers out-sell most EVs. Automakers expanded EV lineups broadly, but that spread can dilute product strength. Mercedes's EQ strategy shows risks: several EQ models underperformed, often riding worse, costing more, and offering awkward designs relative to gasoline counterparts.
Read at insideevs.com
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