In a notable shift, the percentage of electric vehicles (EVs) among new vehicle sales in the United States has risen to 7.2% during the first seven months of 2023, marking a substantial increase from the 4.9% recorded during the same period last year, according to data from Experian. The surge in EV adoption saw 655,986 new EV registrations this year, while total new light-vehicle registrations reached approximately 9.1 million.
Tesla continues to be the undisputed leader in the U.S. EV market, commanding an impressive 59.5% share with a total of 390,377 new registrations. Notably, the Tesla Model Y proved exceptionally popular during this seven-month period, recording 236,041 registrations—more than double its performance from the previous year. The Model 3 also experienced a significant boost, with a 21% increase in registrations, totaling 131,381 units. In contrast, registrations for the Model S and Model X decreased by 51% and 14%, respectively, with 8,943 and 14,462 units.
Securing the second position was General Motors with 39,647 new EV registrations, representing 6% of the total market, slightly edging out Ford with 33,955 registrations or 5.2%. Hyundai followed closely with 28,198 registrations (4.3%), while BMW and Mercedes-Benz recorded 23,116 (3.5%) and 21,160 (3.2%) new EV registrations, respectively.
Elizabeth Krear, Vice President of J.D. Power's Electric Vehicle Practice, highlighted that the EV market share further increased to 8.5% in July, with Tesla's share reaching 63%. Krear noted, “Affordability remains the highest-scoring factor at 97, driven by aggressive pricing from Tesla. Although the affordability factor is approaching parity, it is skewed by the premium market, driven largely by Tesla's 63% EV market share.”