The percentage of new vehicles sold in the U.S. that are electric vehicles (EVs) has risen in the first seven months of 2023 to 7.2%. This marks a significant increase from the 4.9% they represented in the same January-July period last year.
Data from Experian has revealed that this year, new EV registrations in the U.S. hit 655,986 units while total new light-vehicle registrations rose to roughly 9.1 million. As expected, it is Tesla that continues to lead the way, accounting for a staggering 59.5% of all new EVs sold in the United States with a total of 390,377 registrations.
The Tesla Model Y proved particularly popular in the seven-month period to July with some 236,041 registrations being recorded, more than double the same time last year. Demand for the Model 3 also jumped with 21% more registrations, totaling 131,381 units. Registrations for the Model S and Model X fell by 51% and 14% to 8,943 and 14,462 units respectively.
Read: EV Sales In Europe Surge By 60.6% In July, Overall Market Up 15.2%
Sitting in second position was General Motors with 39,647 new EV registrations or 6% of the total market. This positioned it slightly ahead of Ford with 33,955 registrations or 5.2%. Hyundai then followed with 28,198 registrations (4.3%), BMW had 23,116 registrations (3.5%), and Mercedes-Benz recorded 21,160 new EV registrations (3.2%).
Speaking with Auto News, J.D. Power vice president and electric vehicle practice Elizabeth Krear, indicated that the share of EVs rose to 8.5% in July and Tesla’s share jumped to 63%.
“Affordability remains the highest-scoring factor at 97, driven by aggressive pricing from Tesla,” Krear said. “Although the affordability factor is approaching parity, it is skewed by the premium market, driven largely by Tesla’s 63 percent EV market share.”
