February 8, 2024

Key Electric Car Statistics and Charging Trends You Should Know in 2024


7 Min. Read

Transitioning away from internal combustion engine (ICE) automobiles to electric vehicles (EVs) is critical for accomplishing net zero emissions targets.

Your interest in EVs may be piqued by a commitment to cleaner energy, a desire to purchase the latest in four-wheeled technology and safety, or a recognition that fossil-fuel-powered vehicles are on their way to becoming fossils themselves.

EVs are an investment in your future and the future of the planet. To make informed decisions, you want to be armed with the latest electric car statistics and charging trends. Staying abreast of the ever-expanding EV market and EV charging station availability is paramount for anyone who intends to purchase an EV or install one or more charging stations on their property.

This article provides an overview of the latest electric car statistics and trends shaping the EV landscape.

The Rise of Electric Vehicles

EV sales are growing exponentially worldwide and are predicted to achieve 22% growth this year.

BloombergNEF expects 23% of new car sales to be EVs by 2025; that number is projected to exceed more than 50% by 2030. Nearly 6 out of 10 Battery Electric Vehicles purchased globally in 2024 are expected to be sold in China, the hottest EV market in recent years.

What about the U.S.? Two statistics illustrate the expanding American EV sales figures. EV sales were approximately 48% higher in 2023 than the prior year, with a record-breaking 1.2 million EVs sold. Pundits estimate U.S. EV sales in 2024 to total nearly 1.9 million or 13% of new car purchases nationally. Twenty-three percent of all new cars sold in the U.S. will likely be EVs next year and on a national level, EVs are expected to comprise over 50% of the new vehicle market by 2030!

Market saturation and EV adoption vary widely by state. In California, EV sales already make up 25% of all new vehicle purchases. EVs make up more than 10% of new automobile sales in nine other states: Colorado, Hawaii, Maryland, Massachusetts, Nevada, New Jersey, Oregon, Virginia, and Washington.

Government initiatives and growing environmental concerns are boosting electric car adoption. The Inflation Reduction Act (IRA) offers the most publicized incentives to make EVs and charging stations more affordable. Countless other tax credits and rebate incentives are available at the state level and from various utilities.

The Department of Energy’s Alternative Fuels Data Center website features a comprehensive database of incentive programs.

Electric Car Features and Innovations

More than 40 battery-powered models of automobiles, trucks, and SUVs are currently for sale in the U.S., with additional options debuting in the coming months.

Some long-established automobile manufacturers recently reduced their EV production targets. Conversely, the newer manufacturers are launching additional models and hyping their expansion plans.

While sedans have received the most attention, carmakers typically generate higher profits from SUVs and larger vehicle models. Nearly 40% of the available EV models were SUVs in 2022. Consumers prefer those vehicles, and 16% of SUVs sold that year were electric, a higher percentage than smaller electric vehicle sales compared to ICE options.

In Europe and China, SUVs and larger vehicle models comprised 60% of available EVs in 2022. So, expect more electric SUV choices in the U.S., too.

Charging Infrastructure Expansion

The EV charging station infrastructure continues to change and grow rapidly, with the U.S. Department of Energy providing quarterly updates. In the second quarter of 2023, the number of public charging ports available in the U.S. grew by 4.1% to 141,714. Private ports increased by 3.4%.

While availability has grown consistently, an accelerated installation effort is needed, particularly in sections of the U.S. where electrification efforts are lagging or greater infrastructure updates are needed to support the coming need for reliable EV charging infrastructure.

The U.S. requires an estimated 182,000 DC fast charging station ports and over 1 million Level 2 public charging ports to support the projected numbers of EVs expected by 2030. Currently, only 7.8% of the necessary fast-charging stations and 10.7% of the necessary Level 2 ports are available.

Charging station accessibility also varies greatly by state. California has nearly one-third of the nation’s public charging stations. This highlights the importance of planning before taking extensive road trips to determine where charging stations are accessible along the route.

But beyond a need for public EV charging stations, EV drivers also need a reliable at-home EV charging option. With more than 80% of EV drivers preferring the option to charge at home overnight, saving money and time, having a robust residential network of EV charging stations will also be critical to the future of electric vehicles in the U.S.

Charging Trends and Technologies

Charging electric autos at home or worksites may account for the bulk of charger utilization, but the ability to restore your vehicle’s range while traveling is critical to alleviating consumer concerns. It’s not enough to find a charger while you’re on the road; you must also allow enough time to refill the battery.

Solutions to facilitate traveling with a minimal delay for re-charging include improved vehicle ranges, the development of faster charging equipment, and the introduction of new technologies, such as wireless charging solutions.

One of the biggest hurdles to EV adoption has been range anxiety, but battery ranges continue to improve. More than 50 EV models had ranges of at least 300 miles in 2023. Only 14 had that much range in 2022. Many predict the average EV range will exceed 400 miles by 2030, on par with many ICE vehicle ranges.

DC Fast Charging Stations, also known as Level 3 EV charging stations, can charge electric vehicles in under an hour, but they require “direct current,” which involves a higher voltage that isn’t widely available in residential or rural areas. Researchers are working on a simpler fast-charging architecture to allow DC power to be distributed to multiple charging points.

Wireless charging technology may also enable faster charging capability. Energy can be transferred via electrification coils with no user intervention and an absence of moving parts. Some automakers are testing the concept for their electric cars.

The Future of Electric Cars and EV Adoption

As the demand for EVs continues to grow, staying informed about the latest electric car statistics and trends is essential. You know EVs have advantages over traditional gas-powered cars, including zero emissions and lower fuel costs, but navigating EV charging can be a challenge.

As the numbers of EVs on the roads and EV charging stations continue to grow, so are the EV model selections, EV and EV charger technology, and other associated innovations that are driving the energy transition. An all-electric future is coming and it will be here sooner than you might expect.

If you’re driving an electric vehicle, public EV charging stations can provide the assurances you need to relieve range anxiety while traveling across the country but solely utilizing public EV charging stations is a strategy that will cost you more, increase your wait time, and leaves you dependent on a charging network that’s still growing.

One of the most important facts to know about charging an EV is that 80% of charging is done at home, generally overnight. Installing a Level 2 EV charger makes the ease of charging at home possible and can transform your EV charging experience with a reliable charging option that meets your daily driving needs!

But when it comes to hiring a licensed electrician for your at-home EV charger installation, it’s important to ensure that your investment in your future is sound and your EV charger is properly installed—and not all electricians will have the specialized knowledge or experience to perform an at-home EV charger installation. So how do you find qualified, experienced contractors to install a Level 2 EV charger?

Qmerit can help! With the largest network of certified EV charger installers in North America, no one has more experience when it comes to ensuring the safety and quality of EV charger installation or other energy transition technology services. We’ve installed more EV chargers than any other network and have earned our reputation as the most trusted EV charger installer in North America.

Qmerit-certified installers are fully background-checked, vetted, licensed, trained, and insured before they even step foot in your home or business and every installation comes with the Qmerit Peace of Mind Guarantee. We’re here to make your electrification journey easy and provide a first-class experience with the highest quality of materials and service.

Contact Qmerit today for an EV charger installation experience that will give you the freedom of charging at home and the convenience of knowing your EV is fully charged and ready to go when you are.

Author: Greg Sowder

Greg Sowder

President, Qmerit Network