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Hydrogen Car Sales in the U.S. Plunge in Q1

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The U.S. hydrogen car market drastically shrank last quarter. Toyota’s Mirai saw a 74% decrease compared to the previous year, and Hyundai’s Nexo also decreased by 22%. The limitations of the hydrogen car market are becoming evident due to the rising cost of hydrogen fuel and the lack of hydrogen charging infrastructure.

According to data from the Hydrogen Fuel Cell Partnership on the 19th, U.S. hydrogen car sales in the first quarter were limited to 223 units. This is a 70% decrease compared to last year’s period, marking the lowest sales since 2016.

Hyundai’s Nexo sold 51 units, a 22% decrease from last year. Toyota’s Mirai only sold 172 units, a 74% decrease from last year.

Last year, the U.S. hydrogen car market was about 10% larger than in 2022, with 2,978 units sold. Mirai and Nexo sold 2,737 and 241 units, respectively.

Last year, the global market size for hydrogen cars decreased by 30.2% to 14,451 units compared to the previous year. The leading cause of the market contraction was the poor sales of Hyundai’s hydrogen cars. Once the top seller in the global hydrogen car market, Hyundai’s hydrogen cars experienced declining sales, leading to a natural reduction in market size.

The size of the national hydrogen car market (based on passenger cars) is in the order of China, Korea, the U.S., Europe, and Japan. The Chinese market size was around 5,600 units, representing a 38.8% share of the total hydrogen market, while Korea had 4,631 units (32%), and the U.S. had 2,978 units (20.7%).

theguru
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