In a landmark moment in the chronicles of the US automotive history, the conclusion of 2023 stood out as a watershed moment, marked by an unprecedented surge in sales of plug-in electric vehicles (EVs). Unveiling staggering figures, the Argonne National Laboratory revealed that the month of December 2023 witnessed the sale of 141,055 rechargeable cars (including 100,928 all-electric vehicles and 40,127 plug-in hybrid vehicles). The figure represents a remarkable 9.8 per cent share of the total light-duty vehicle sales, showcasing an impressive year-over-year growth of 42 per cent.

Zooming out to the entire last year, the U.S. market experienced a paradigm shift as a record-shattering 1.4 million plug-in electric cars were sold, signifying an extraordinary leap of more than 50 per cent from the previous year. This achievement was further underscored by the fact that plug-in electric vehicles accounted for 9.1 per cent of the total vehicle sales volume. This figure marks a significant upswing from the 6.8 per cent share reported in the preceding year.

Analyzing the Department of Energy's Vehicle Technologies Office data thoroughly revealed that the zenith of the EV revolution was witnessed in September last year, when plug-in electric vehicles secured a historic market share of 9.9 per cent. Notably, the craze for EVs extended across the entire year, with each month consistently boasting a market share of 8 per cent or higher. It was an impressive feat compared to the preceding year when such figures failed to hit the mark of 8 per cent. However, compared with global standards, these numbers are still a pale in comparison to the vigorous EV markets of Europe and China.

Within this electrifying landscape, sales of all-electric cars took center stage, with an estimated 1.1 million units sold, marking a significant 48 per cent year-over-year surge. Setting an impressive record, all plug-in electric vehicles accounted for 80 per cent of the given figure. In the market share breakdown, battery electric vehicles (BEVs) accounted for a share of 7 per cent, with the irrefutable dominance of Tesla, which contributed to more than 50 per cent of the BEV segment.

As we bid farewell to an electrifying year, anticipation has started building for what lies ahead in 2024. The burning question on everyone's lips is whether the momentum we saw last year will persist, driving sales of EVs to even higher levels.