Tesla Now Has An Almost 60-Percent Share Of The EV Market In The US

The American carmaker saw a 50 percent increase in registrations from January to July compared to the same period last year.

Tesla Model Y

Iulian Dnistran

By: Iulian Dnistran

Sep 13, 2023 at 6:49am ET

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Tesla is leading the EV race in the United States in terms of new registrations and market share, according to data from Experian published by Automotive News.

In the first seven months, thanks in part to the somewhat chaotic price reductions, the Elon Musk-led car manufacturer saw 390,377 new registrations in the US, a 50 percent increase compared to the same period last year, and now has a 59.5 percent share of the American EV market.

Chevrolet is in second place, with nearly 40,000 new electric vehicle registrations between January and July and a 6 percent market share, and Ford occupies third place in the list, with 33,955 new EV registrations in the first seven months and a 5.2 percent share.

Gallery: 2021 Tesla Model Y

2021 Tesla Model Y

As a whole, the all-electric car industry saw registrations rise to 655,986 in the aforementioned period – an increase of 67 percent – for a total market share of 7.2 percent. The entire light-vehicle market recorded about 9.1 million new registrations, Experian data shows.

When it comes to Tesla, it had 60,769 new registrations in July alone, while all the other EV manufacturers combined had 48,566 vehicles registered in the US. At the same time, data from J.D. Power shows Tesla had an estimated market share of 8.5 percent in the light-vehicle segment in July, crediting the Austin-based firm for driving EV adoption nationwide.

Share of new EV registrations by brand (January - July 2023)

Rank Brand New EV Registrations Share of EV Market 1 Tesla 390,377 59.5% 2 Chevrolet 39,647 6.0% 3 Ford 33,955 5.2% 4 Hyundai 28,189 4.3% 5 BMW 23,116 3.5%

The most-registered Tesla in the first seven months was the Model Y crossover, with 236,041 new units, more than double compared to the same period last year, while the Model 3 saw a 21 percent rise in new registrations to 131,381. At the same time, the Model S fell 51 percent to 8,439 units, while the Model X went down 14 percent to 14,462 new registrations.

In the case of Chevrolet, the soon-to-be-retired Bolt EV and Bolt EUV were responsible for all of the new registrations except for 25 new Silverado EV pickups, with July being the first month when the all-electric pickup entered the new registration data.

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Ford’s EV share fell from 6.9 percent to 5.2 percent, with a total of 33,955 vehicles registered in the January-July period. The F-150 Lightning pickup accounted for 11,883 units, surpassing the Rivian R1T which saw 7,611 new registrations.

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