The first four months of this year saw a significant surge in new all-electric car registrations in the United States, with an impressive 72 percent year-over-year increase, totaling nearly 350,000 vehicles. However, recent data from Experian, as reported by Automotive News, reveals a diverse range of outcomes for different automotive brands in this growing market.
Leading the pack is Tesla, which experienced a 52 percent increase in volume compared to the previous year, resulting in almost 212,000 registrations and capturing a commanding 60.8 percent share of the total volume. In contrast, the remaining 24 brands combined accounted for 136,416 registrations, reflecting a remarkable 116 percent year-over-year growth.
Despite the overall positive trend, several prominent brands struggled to achieve anticipated sales numbers, some even performing worse than the previous year. Automotive News identifies Cadillac, GMC, Kia, Lucid, Nissan, Porsche, and Rivian among the brands facing challenges.
Various factors contribute to these disparities. Some manufacturers grappled with constraints in parts supply, while others faced obstacles due to ineligibility for the $7,500 federal tax credit. Additionally, broader issues such as interest rates, inflation, and economic concerns impacted the market.
Kia, for instance, suffered a 27 percent decrease in new battery electric vehicle (BEV) registrations during the January-April period. Both the Kia EV6 and Kia Niro EV, imported from South Korea, were affected by this decline.
The Nissan Leaf, once a top-selling electric model, experienced a substantial 48 percent year-over-year decrease, while the all-new Nissan Ariya recorded only 2,650 units.
Cadillac’s registration numbers for the Lyriq amounted to 1,383, as the brand cautiously ramps up production to ensure product quality.
Porsche faced a 25 percent decline in Taycan registrations, with 2,114 units sold, primarily due to supply constraints.
According to Automotive News, Lucid’s relatively low registration figures (2,298 units) might stem from a “weakening demand due to a lack of market awareness.” Nevertheless, Lucid managed to outsell Porsche Taycan, despite both being in a similar price range.
See also: Ford, GM, and Stellantis to Secure Largest Share of US EV Market Despite Challenges
GMC’s case is unique, with a mere 28 units sold. However, this was partially due to a temporary manufacturing pause. Other brands, such as Mini (862), Lexus (394), VinFast (86), Jaguar (81), and Mazda (37), also recorded below 1,000 BEV sales.
Rivian, the first brand mentioned in the article, stood out with 9,302 registrations, averaging over 2,300 units per month. Although the company faced ramp-up issues, it remains focused on increasing production of the R1T and R1S models. Rivian’s situation differs from most other brands mentioned, as it is expanding its volume.
Rivian CEO RJ Scaringe stated in May that the production ramp-up of R1 vehicles from their Illinois factory is accelerating to address the order backlog. Rivian encountered manufacturing challenges since launching the plant in 2021 due to pandemic-related supply chain issues.
For reference, here is an updated list of brands and models with their registration numbers for January to April 2023:
BEV Registrations (Selected Brands):
- Tesla: 211,842 registrations (52% increase) with a 60.8% share (down from nearly 70%)
- Chevrolet: 24,689 registrations with a 7.1% share
- Ford: 17,167 registrations with a 4.9% share
- Volkswagen: 11,858 registrations (236% increase)
- BMW: 10,680 registrations (compared to 519 the previous year)
- Mercedes-Benz: 10,519 registrations (quadrupled)
- Rivian: 9,302 registrations
- Kia: 8,410 registrations (27% decrease) with a 2.4% share (down from 5.7%)
- Audi: 6,283 registrations (31% increase)
- Lucid: 2,298 registrations
- Porsche: 2,114 registrations (25% decrease)
- Cadillac: 1,383 registrations
- Mini: 862 registrations
- Lexus: 394 registrations
- VinFast: 83 registrations
- Jaguar: 81 registrations
- Mazda: 37 registrations
- GMC: 28 registrations
BEV Registrations (Selected Models):
- Tesla Model Y: 127,541 registrations (99% increase) with a 36.6% share
- Tesla Model 3: 72,259 registrations (28% increase)
- Chevrolet Bolt EUV: 16,036 registrations (up from 1,191)
- Volkswagen ID.4: 11,858 registrations (236% increase)
- Chevrolet Bolt EV: 8,653 registrations (up from 454)
- Tesla Model X: 8,216 registrations (15% increase)
- Ford Mustang Mach-E: 7,972 registrations (25% decrease)
- Hyundai Ioniq 5: 7,957 registrations (7.4% decrease)
- Ford F-150 Lightning: 7,085 registrations (up from 100)
- BMW i4: 6,560 registrations (up from 250)
- Tesla Model S: 3,826 registrations (67% decrease)
- Nissan Ariya: 2,650 registrations
- Lucid Air: 2,298 registrations
- Porsche Taycan: 2,114 registrations (25% decrease)
- Ford E-Transit: 2,110 registrations
- Cadillac Lyriq: 1,383 registrations
- Mini Cooper SE: 862 registrations
- Lexus RZ 450e: 394 registrations
- VinFast VF 8: 83 registrations
- Jaguar I-Pace: 81 registrations
- Mazda MX-30: 37 registrations
- GMC Hummer EV Pickup: 28 registrations (down from 156)
