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There seems to be a trend developing. … As automakers publish their December, 4th quarter, and full-year 2024 sales data, we’re seeing electric vehicles multiplying like rabbits in spring and the myth that EV sales were in decline is getting blown up like Elmer Fudd in a run-in with Bugs Bunny. (Don’t worry, the bunny metaphors are over.)
In the US — one of the weakest EV markets in the developed world — Ford, Kia, and GM sales reports have boasted about their fast growing EV sales. It’s a Christmas miracle. Of course, one brand did see a decline in sales, and since it is the largest EV seller in the USA, accounting for almost 50% of US EV sales, its decline did bring the market down a bit. But that’s nothing for other automakers to pout about or use as evidence of a weaker EV market.
The latest automaker to report stunning EV sales growth is Nissan.
The Nissan LEAF has seen a revival. It’s not exactly putting the Altima out of business, but it did have a 170.4% year-over-year increase in sales in the 4th quarter, and a 57% increase in 2024 versus 2023 as a whole. It scored 3,645 sales in the 4th quarter (up from 1,348 a year before) and banged in 11,226 sales in 2024 (up from 7,152 in 2023).
The Nissan Ariya didn’t grow by quite as much on a percentage growth basis, but it did achieve a higher volume of sales. Its 4th quarter sales were up 30.2%, from 3,765 sales to 4,901 sales. Its total 2024 sales were up 47%, from 13,464 to 19,798.
So, at long last, after some bumpy years, Nissan’s EV business has been revitalized a bit in the USA.
Again, ~30,000 EV sales in a year is not a stunning achievement. It’s far below where we want to be. Tesla sells about twice as many Model 3s in the US in one quarter, and it sells about three times as many Model Ys in one quarter. But it is a stepping stone forward. At least Nissan is seeing strong EV sales growth. Hopefully it can repeat that or better in 2025. It shouldn’t be too hard to double the company’s EV sales and reach at least 10% of Nissan’s total US auto sales.
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