Despite the recent doom and gloom surrounding the electric vehicle (EV) industry, the vehicles continue to make slight gains. It's just that the growth never exploded higher as many analysts and investors had hoped or expected. However, the recent gains, while the broader industry declined, per registration data, came at a significant and unsustainable cost. Here are the details.

We're going to take a look at May registration data that was just released. Registration data gives us a little more insight into specific models as a proxy for sales. It's useful because many automakers don't break out monthly sales period, and if they do some don't break it down to individual models. The cost of this more specific data is that it's delayed by a few weeks -- but the insights are worthwhile.

New U.S. EV registrations rose nearly 10% in May, even as registrations for industry leader  (NASDAQ: TSLA) fell for the fourth consecutive month, according to registration data from S Global Mobility. New May EV registrations totaled nearly 105,000 vehicles and accounted for 7.5% of the U.S. light vehicle market -- an increase from the 6.8% a year earlier.

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Source Fool.com