All-electric car sales in the United States continue to increase at a healthy rate, noticeably outpacing the general car market.
According to the registration data from Experian (via Automotive News), the total number of BEV registrations during the first three months of 2023 amounted to 257,507, which is 63 percent more than a year ago and about 7 percent of the total market (up from 4.6 percent in Q1 2022).
For reference, the total number of light-duty vehicle registration amounted to 3.69 million (up 8.4 percent year-over-year).
Registration data lags behind sales/deliveries, by at least several weeks, but can be used as a proxy of sales, especially because not all sales numbers are publicly available (specifically on a monthly basis).
Tesla noted 155,360 new registrations (up 37 percent year-over-year) in the January-March period, which translated into about 60 percent share out of the total BEV segment. Those are great results, although a year ago, Tesla's share was nearly 72 percent.
This allowed us to calculate that non-Tesla BEV registrations amounted to 102,147 (up about 128 percent year-over-year) and 40 percent share, compared to over 28 percent in Q1 2022.
BEV registrations in January-March 2023:
- Tesla (60% BEVs): 155,360 (up 37%)
- Non-Tesla (40% BEVs): 102,147 (up about 128% from roughly 45,000)
- Total: 257,507 (up 63%) and 7% market share (up from 4.6% in Q1 2022)
The market is clearly evolving and maturing, which means that consumers will have a broader choice of brands and models.
An interesting finding is which brands expanded their market share in Q1, compared to the previous year. Those brands were Chevrolet, Ford, Volkswagen, Rivian, Mercedes-Benz, and BMW. Meanwhile, Tesla, Hyundai, Kia, Audi, Nissan, and Polestar were down.
The top BEV brands, besides Tesla, currently are Chevrolet (thanks to the sales surge of the Bolt EV/Bolt EUV, but the duo will be discontinued), Ford (although it was affected by the Mach-E plant upgrade, and F-150 Lightning battery recall) and Volkswagen (thanks to increasing local production).
It's nice to see that Rivian finally takes off, but the established premium brands like Mercedes-Benz and BMW are also gaining traction.
BEV registrations (select brands) - January-March 2023:
- Tesla (60% BEVs): 155,360 (up 37%) and 60% share (down from 72%)
- Chevrolet - 19,947 (up from 477) and 7.7% share
- Ford - 13,362 (up 82%) and 5.2% share (up from 4.6%)
- Volkswagen - 10,053 (up 244%)and 3.9% share
- Hyundai - 8,064 (up 16%) and 3.1% share (down from 4.4%)
- Mercedes-Benz - 7,168 and 2.8% share (up from 1.3%)
- Rivian - 7,134 (up from 704) and 2.8% share (up from 0.4%)
- BMW - 7,107 and 2.8% share (up from 0.1%)
- Kia - 6,046 (down 28%) and 2.3% share (down from 5.3%)
- Audi - 4,494 (up 26%) and 1.7% share (down from 2.2%)
- Nissan - 4,365 and 1.7% share (down 2.8%)
- Volvo - 2,763 (up 57%) and 1.1% share (no change)
- Polestar - 2,630 and 1.0% share (down from 1.5%)
- Lucid - 1,739 and 0.7% share
- Toyota - 1,570
- Subaru - 1,399
- Cadillac - 945
- Genesis - 786
- Lexus - 338
- GMC - 17 (down from 79)
- VinFast - 17
In terms of the best-selling models (most registered to be precise), the two at the top are the Tesla Model Y and Model 3. Both increased, although the Model 3 just slightly (despite price cuts). The most important model is the Model Y, which is up by 79 percent year-over-year.
Then we can see the Chevrolet Bolt EV/Bolt EUV, Volkswagen ID.4, and Tesla Model X, ahead of the Ford Mustang Mach-E. We guess that in a matter of a few months, we will see much better results from the Mach-E, as well as further growth from the Volkswagen ID.4.
BEV registrations in the US (select models) - January-March 2023:
- Tesla Model Y - 93,294 (up 79%) and 36% share
- Tesla Model 3 - 52,885 (up 11%)
- Chevrolet Bolt EV/Bolt EUV - 19,947 (up from 477)
- Volkswagen ID.4 - 10,053 (up 244%)
- Tesla Model X - 6,545 (up 34%)
- Ford Mustang Mach-E - 6,110 (down 12%)
- Hyundai Ioniq 5 - 5,839 (down 6.7%)
- Ford F-150 Lightning - 5,652 (up from 53)
- BMW i4 - 4,547
- Mercedes-Benz EQS Sedan and EQS SUV - 4,487 (up 261%)
- Rivian R1T - 4,109 (up from 704)
- Kia EV6 - probably close to 4,000
- Rivian R1S - 3,025 (new)
- Volvo XC40/C40 BEVs - 2,763 (up 57%)
- Mercedes-Benz EQB and EQE Sedan - 2,681 (new)
- Tesla Model S - 2,636 (down 71%)
- Polestar 2 - 2,630
- Nissan Leaf - 2,476
- BMW iX - 2,232
- Hyundai Kona Electric - 1,975 (up 190%)
- Nissan Ariya - 1,889
- Lucid Air - 1,739
- Ford E-Transit - 1,600 (up from 348)
- Toyota bZ4X - 1,570
- Subaru Solterra - 1,399
- Cadillac Lyriq - 945
- Lexus RZ 450e - 338
- BMW i7 - 328 (new)
- Hyundai Ioniq 6 - 261 (new)
- GMC Hummer EV Pickup/SUV - 17 (down from 79)
- VinFast VF 8 - 17
Source: Automotive News