Louisiana
America’s electric vehicle transition is well underway — but not in Louisiana • Louisiana Illuminator
The electric vehicle transition has firmly taken root in the United States, with Louisiana lagging well behind, according to a new report from an auto manufacturing trade association.
The latest market data from the Alliance for Automotive Innovation shows EV sales nationwide during the second quarter of 2024 have reached their highest volume ever recorded with 386,000 sales. That’s out of an estimated total of 4.1 million new vehicles sold during the three-month period, according to figures from manufacturers.
For the entire first half of 2024, automakers sold more than 730,000 EVs, which include fully electric, hybrid and fuel cell electric cars. The report based much of its analysis on vehicle registration data from the U.S. Energy Information Administration and S&P Global Mobility.
The quarterly sales figure represents nearly 10% of new car sales during the period, which is up from 9.3% during the first quarter and 9% during the same period last year, according to the report.
Electric vehicles now claim 22% of the U.S. automotive market — compared to just 3% in 2016. At the same time, the market share for gas and diesel vehicles has been steadily declining since 2016.
However, like many other state-by-state rankings and metrics, Louisiana remains far behind its peers with an EV market share of only 1.83%, ranking 49th in the country. Only Mississippi (1.72%) and North Dakota (1.62%) saw a smaller share of EV sales in the second quarter.
While EVs have created an economic boon in other states, many of Louisiana’s political leaders have expressed fear of the energy transition and have taken policy positions that hamstring the industry. Since 2020, automotive and battery manufacturers have invested $125 billion into the EV sector and created 114,000 jobs across 18 states, according to the report.
More than one-quarter of new vehicle sales in California from March through June were electric vehicles. EV buyers accounted for nearly 20% of new auto sales in Washington, D.C, and Washington state during the same period.
Despite Louisiana’s low market share, EV sales in the state are still trending upward, representing 1.9% of new car sales during this year’s second quarter, which is a 1.8% jump from the first quarter and a 1.6% jump from the same period last year.
Louisiana lawmakers pass bill to protect ‘freedom’ to buy gas vehicles
The slow pace of adoption in Louisiana has had the unintentional effect of allowing public EV charging infrastructure to catch up in the state.
Almost 2,700 DC fast chargers, which can fully charge an EV battery in as little as 20 minutes, were installed across the U.S. during the second quarter of 2024. According to the report, there are now roughly 29 EVs for every public car charger.
In Louisiana, there are a total of 265 DC fast chargers, 29 of which were added during the second quarter. This equates to a ratio of 18 EVs for every public port in the state, which ranks Louisiana as the 16th best for charger-to-car ratio.
The inflationary pressures that drove up new EV sales prices during 2022 have largely subsided. The average EV transaction price of $56,000 is about 2% lower than it was at the beginning of the year and about 18% lower than it was two years ago. Electric vehicle prices, overall, are about 16% higher than that of the average car, according to the report.
While EVs were once dominated by funny-looking compact passenger cars, they now come in a variety of shapes and sizes. Manufacturers continue to introduce new models to satisfy a variety of consumer needs, including sport utility vehicles, pickup trucks, minivans and sports cars. During the second quarter of 2024, SUVs, pickups and minivans comprised 84% of the EV market — a 10 percentage point increase over the same period last year.
GET THE MORNING HEADLINES.
Two dogs in Scott, Louisiana died Thursday afternoon in a structure fire.
You may have seen a large plume of smoke coming from the Scott area Thursday afternoon and it was a result of a shop and camper that caught fire in the 700 block of Wyman Road.
The Scott Fire Department with the assistance of several other departments responded to the large blaze and unfortunately, the blaze was close to the kennel where the dogs were housed.
Two dogs died as a result of the fire and the camper and shop, where the fire started, were a complete loss.
Cluster Of Destructive Wildfires Burns Through Napa And Sonoma Counties In California
The fire is under investigation and due to the severity of the damage on the property, it may take some time for authorities to determine the cause. KLFY News 10 reports that an electrical fire is possible.
The Scott Fire Department posted this photo from the scene, and you can see how much smoke was coming from the structure.
Scott FD Facebook
LOOK: 50 songs you won’t believe are turning 50 this year
Gallery Credit: Kaiya Shunyata
NEW ORLEANS (WVUE) – The New Orleans Metropolitan Association of Realtors (NOMAR) hosted its annual Forecast Symposium, where real estate professionals gathered to discuss key factors impacting the housing market.
A major theme this year was Louisiana’s ongoing insurance crisis, which is severely affecting home sales and affordability.
Craig Mirambell, president of NOMAR, says soaring insurance premiums have become a central issue.
“Insurance prices are really outrageous, interest rates being high, the economy is slow, elections are coming up. We got a lot of negatives, but the good thing is homeowners have kept the equity in their houses,” said Mirambell.
Mirambell says Louisiana’s insurance crisis has been pulling down the state’s housing industry for the last two years. He believes the most recent hurricanes along the Gulf Coast can only complicate matters.
“Even though we didn’t get a direct hit here in Louisiana, seeing these come to our Southern friends, is ultimately not going to help our insurance rates at all assumably. So that wasn’t needed, the costs that are coming with that are ultimately going to keep prices high,” said Mirambell.
Those prices have made it very tough for some realtors to sell homes. That means less money is coming in.
“To be honest, I used to do real estate full-time. I do not do it full-time anymore because it’s just too hard. I have a family as well. So, I can’t put everything on these deals happening, because I need them to happen. If they don’t happen, then my clients aren’t happy and then family isn’t happy,” said Misty Frye of Frye & Melancon Realty in New Orleans.
INSURANCE CRISIS
Misty Frye has been an agent for 17 years and says the cost associated with a buying home in Louisiana can often put potential buyers on an emotional roller coaster.
“People can be tearful, they’re upset. They think they’re getting to the finish line and then something comes up and it’s like, oh no, you can’t do it, the insurance blew it out of the water,” Frye said.
Dr. Jessica Lautz was a featured speaker at this year’s symposium. She is an economist for the National Association of Realtors. She brought a broader view to the forecasting conference and said Louisiana’s real estate industry is facing several headwinds, including declining population.
“In most areas of the Sun Belt, we see a mass migration into those areas, but unfortunately Louisiana is not seeing that. So, we don’t have that in the New Orleans area. Job growth has not rebounded since before the start of COVID and that could be restricting people from moving here. Though what I have to say affordability is definitely in a better in a better scenario than what we see in other areas of the country,” said Dr. Lautz.
Despite the multiple challenges the New Orleans real estate market has faced in recent years, NOMAR’s board president predicted an improving market in 2025.
“I’m always an optimistic kind of guy. I like to bring that to our boardroom, our clients and consumers. Ultimately, we are at a slower time in the market right now. The market has been slow. We had an uptick in COVID that was kind of wild and crazy. Surely, it had to go down from there. Once, the election is over and people settle down from that, we expect the market to pick up in 2025 regardless of insurance prices.” said Mirambell.
See a spelling or grammar error in our story? Click Here to report it. Please include the headline.
Subscribe to the Fox 8 YouTube channel.
Copyright 2024 WVUE. All rights reserved.
NC lawmaker accuses Mayorkas of politicizing 'tragedy for personal gain' after FEMA funding alarms
Photos: U.S. Navy Blue Angles roar over the San Francisco Bay
Dallas police release pictures of vehicle allegedly used in hit-and-run crash that killed paramedic
Miami Heat Guard Tyler Herro Reveals His Preseason Debut Plans
New England's gold treasure hunt is back on (sort of)
Colorado Rockies game no. 116 thread: Zac Gallen vs José Ureña
See it: Tesla crashes into Columbus convention center at 70 mph
Fox News Politics: Georgia the whole day through
Death of missing Oregon girl found in stream ruled homicide
At least 2 dead as tornadoes hit Alabama, damage homes across Southeast
Mayorkas grabs high-end sushi from DC Nobu directly after quick stop in Hurricane Helene-hit North Carolina
Zelenskyy meets Scholz in Berlin despite NATO meeting cancellation
How one woman is seeking atonement this year during Yom Kippur
How a Fox News host’s misleading question about migrant children morphed into a Trump talking point
Hunter Biden legal saga is ‘real war’ that 'preoccupied' outgoing president, new Woodward book claims
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/25439572/VRG_TEC_Textless.jpg "Charter will offer Peacock for free with some cable subscriptions next year")
Technology1 week agoCharter will offer Peacock for free with some cable subscriptions next year
-
World1 week agoUkrainian stronghold Vuhledar falls to Russian offensive after two years of bombardment
-
World1 week agoWikiLeaks’ Julian Assange says he pleaded ‘guilty to journalism’ in order to be freed
-
Technology1 week agoBeware of fraudsters posing as government officials trying to steal your cash
-
Health6 days agoHealth, happiness and helping others are vital parts of free and responsible society, Founding Fathers taught
-
Sports1 week agoFreddie Freeman says his ankle sprain is worst injury he's ever tried to play through
-
News6 days agoLebanon says 50 medics killed in past three days as Israel extends its bombardment
-
Entertainment2 days agoHold my beer can: Museum says a worker thought unique art installation was trash