EV Ownership Increases 18.2% In a Difficult Year

DMV Releases Updated EV Registration Data

There are 13,800 EVs registered in CT as of January 1, 2021, according to data released by the Department of Motor Vehicles in its statutorily required semi-annual reporting. This represents an increase of 18.2% over the 11,677 EVs registered in January 2020. This is a lower rate of growth relative to 2020 over 2019, when it was 25.7% (and way lower than Jan 2019 over Jan 2018, when it was 45.8%). The featured image at the top of the post contains the number of registered EVs for each data point that we have obtained from the DMV. This began in 2017 with annual updates, then moving to semi-annual updates in 2019.

The pandemic induced lockdown and severe recession led to highly restrained growth of 8.1% during the first half of the year. Things picked up a little in the latter half of 2020 when the rate was 10.1%.

A total of 4,408 EVs were added to the file in 2020. This means that there was turnover of 2,285 vehicles.

Briefly, the DMV is reporting a snapshot of registrations. Vehicles can be added to the file as a result of the acquisition of a new vehicle, a used vehicle, or someone moving into the state who already owns an EV. Vehicles can leave the file due to the owner selling the car, having an expiring lease, or moving out of state.

The DMV has only reported these top line numbers as of the date of this publication. Subsequently, we will receive more detailed data including fuel type, city, make, and model. The diagnostic details are what really tell the story.

We do not have the “full file” of all vehicles and so we are not able to say how EVs trended relative to ICE vehicles. There has been reporting that EV sales have generally held up a little better, but we can’t comment on CT specifically.

Compound Annual Growth Rate Required to hit ZEV MOU 2030 GoalsThe state continues to lose ground with respect to the goals articulated in the Multi-State ZEV Action Plan Memorandum of Understanding. I have updated the needed compounded annual growth rate chart, and the curve is going in the wrong direction. In this case, up means we’re down. As of January 1, a CAGR of 49.02% would be required to reach 500,000 EVs by 2030. This is up from 47.29% in July and 45.6% one year ago.

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