The electric vehicle (EV) market in the United States continues to gain momentum as sales of all-electric cars experienced significant growth in April. The latest registration data from Experian, reported by Automotive News, reveals that the number of battery electric vehicle (BEV) registrations during the first four months of 2023 reached 348,258, marking a substantial 72 percent increase compared to the same period last year. This surge in registrations accounted for approximately 7 percent of the total car market, a notable rise from the 4.4 percent market share observed in 2022.
In comparison, the total number of registrations for light-duty vehicles exceeded five million during the aforementioned period. Although registration data slightly lags behind actual sales and deliveries, it serves as a reliable proxy for gauging market trends, especially considering that not all sales figures are made publicly available on a monthly basis.
Tesla, the leading player in the BEV segment, reported 211,842 new registrations between January and April, marking a 52 percent year-over-year increase. This translates to an impressive market share of about 60.8 percent within the BEV segment. Although Tesla’s market share remains high, it is slightly lower than the previous year, primarily due to the rapid expansion of the overall market.
Consequently, non-Tesla BEV registrations accounted for 136,416, representing a significant 116 percent year-over-year growth and a 39.2 percent market share.
April witnessed the registration of over 90,000 new BEVs, with Tesla securing the top position by registering over 56,000 units. Among the top three BEV brands in the country, Tesla was followed by Chevrolet and Ford.
In terms of specific models, the Tesla Model Y took the lead with 127,541 registrations, closely followed by the Tesla Model 3 with 72,259 registrations. Notably, the Tesla Model 3 experienced a 28 percent year-over-year growth, while the Tesla Model Y doubled its volume, capturing more than one-third of the BEV segment.
Other popular models include the Chevrolet Bolt EV/Bolt EUV duo, accounting for nearly 25,000 registrations, and the Volkswagen ID.4 with 11,858 registrations. However, the latter part of the year is expected to witness a strong push from the Ford Mustang Mach-E and the Ford F-150 Lightning.
The premium brand segment also experienced growth, with Tesla leading the way. Despite some debate about its classification as a premium brand, Tesla’s registrations stood at an impressive 211,842, marking a 52 percent increase compared to the previous year. BMW secured the second position with 114,889 registrations, reflecting an 8.6 percent growth. Lexus, Mercedes-Benz, and Audi also noted year-over-year growth, cementing their positions among the top premium brands in the US market.
The surge in all-electric car sales and the expanding market share of BEVs in the US is indicative of a growing interest in sustainable mobility. With major automakers increasingly investing in electric vehicle technology and expanding their product lineups, the future of the electric car market in the United States appears promising.
