Electric cars are cool but it's still only for a small set of people

Electric cars have created some of the biggest buzz-worthy news at this year’s CES, including Faraday Future’s first vehicle and Volkswagen’s BUDD-e microbus.

But the latest auto sales data show electric cars are still a long ways away from reaching the mainstream audience.

According to this chart by Statista, based on data from Motor Intelligence and Inside EVs, only 113,588 electric cars were sold in the US last year, accounting for roughly 1.4% of the total passenger car market. That number, in fact, is a drop from the previous year, when 123,049 electric vehicles were sold.

Electric cars are also failing to grow their overall market share. They have consistently accounted for 1.2% to 1.4% of total market share over the past three years, showing the electric car market is still in its infancy, serving only a small group of drivers.

NOW WATCH: Engineers in Iran have created a robot that imitates human behaviour with scary accuracy

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.