The Tesla Model Y and Toyota RAV4 trailed the Ford F-Series total registrations by just 0.1 percent in 2023, excluding fleet sales. This trend represents another sign that buyers are continuing the shift toward SUVs and crossovers. That along with several other insights come from a deeper look at S&P Global’s analysis of the U.S. auto market of 2023.

Read: Used EV Prices Plummet 32% As Tesla Price Cuts Impact Industry

The firm gathers registration data from all 50 states, compiles it, and then reports its findings. Registration data is key since some brands like Tesla don’t report their sales figures. The data contained in the study references light vehicles only, which includes the Ford F-250 and F-350 along with similarly large heavy-duty trucks from GM and Ram. S&P Global confirmed to Carscoops that larger trucks fall into its “medium/heavy” category.

That said, the Ford F-Series (150,250,350) only beat out the Tesla Model 3 and Toyota RAV4 in terms of total registrations (fleet sales excluded) by 0.1 percent. The truck lineup saw 380,685 registrations while the Model Y saw 375,140 and the RAV4 had 368,521. The Chevrolet Silverado (1500, 2500, 3500) came in fourth with 348,573 and the Honda CR-V rounded out the top five with 347,043 registrations in 2023.

TOP 10 Models Registered in the US in 2023 (Total)
ModelUnits% of Total
FORD F SERIES [#1]676,9894.5%
CHEVROLET SILVERADO [#2]540,2943.6%
TOYOTA RAV4  [#4]430,5732.8%
RAM [#3]403,0332.7%
TESLA MODEL Y [#9]384,5932.5%
HONDA CR-V [#7]356,6872.3%
GMC SIERRA [#6]294,0881.9%
TOYOTA CAMRY [#5]288,8311.9%
NISSAN ROGUE [#22]258,2521.7%
JEEP GRAND CHEROKEE [#12]238,9001.6%
*Number in brackets is rank position of the model in 2022
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TOP 10 Models Registered in the US in 2023 (Retail – Excludes Fleet)
ModelUnits% of Total
FORD F SERIES [#3]380,6853.2%
TESLA MODEL Y [#7]375,1403.1%
TOYOTA RAV4 [#1]368,5213.1%
CHEVROLET SILVERADO [#2]348,5732.9%
HONDA CR-V [#6]347,0432.9%
RAM [#4]244,2042.0%
TOYOTA CAMRY [#5]224,3971.9%
GMC SIERRA [#11]221,7071.9%
TESLA MODEL 3 [#15]199,1831.7%
TOYOTA TACOMA [#8]196,9381.7%
*Number in brackets is rank position of the model in 2022
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Notably, the RAV4 and F-Series actually swapped spots when compared to 2022, but the evidence suggests that some truck buyers are moving toward SUVs. For 2022, the top five fleet-excluded spots had all three mainstream trucks included.

For 2023, Ford might barely hold the top spot but Chevrolet dropped from second to fourth and Ram fell from fourth to sixth. Meanwhile, the Model Y jumped up from seventh last year and the CR-V moved up from sixth place.

Fleet And EV Markets Are Consistent

There’s no question that when fleet sales get added to the mix, trucks are still a dominating force. Ford’s F-Series saw 676,989 registrations in total during 2023 which represents 4.5 percent of the entire market. The Chevrolet Silverado came in second with 540,294 registrations representing 3.6 percent of the market. The RAV4 snagged third with 430,573 registrations. Ram picked up fourth place and Tesla’s Model Y rounded out the top five.

For this study, the Model Y stands out as a luxury vehicle in a field of non-luxury options. That’s rare but shouldn’t come as too big of a surprise considering just how popular the Model Y is. It represented 33.5 percent of the total electric vehicle registrations in the U.S. during 2023. Remove fleet sales and that figure rockets up to 37.1 percent of the market.

Overall, the market appears to be moving toward SUVs and electrified vehicles slowly but surely. Half of overall sales are SUVs and the CR-V, Model Y, and RAV4 have a huge lead on the rest of the segment.

New US Retail Registrations by Fuel Type in 2023 (Retail – Excludes Fleet)
Fuel2023 Volume% of Total
GASOLINE9,333,62778.3%
HYBRID1,243,11910.4%
DIESEL337,1312.8%
ELECTRIC1,012,2518.5%
ALL FUEL TYPES11,926,128 100%
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When it comes to fuel choices, unsurprisingly, gasoline vehicles dominated the new car (retail) market in the US, making up 78.3% of sales in 2023, totaling 9,333,627 units. Hybrids followed at 10.4%, with 1,243,119 units sold, while diesel vehicles made up 2.8%, or 337,131 registrations. Electric vehicles saw impressive growth, reaching 8.5% of the market share with 1,012,251 units sold. Altogether, registrations across all fuel types reached 11,926,128 units.

Top 10 Hybrid Models Registered in the US in 2023, Total
ModelUnits% Contribution
HONDA CR-V194,23013.6%
TOYOTA RAV4183,39412.8%
HONDA ACCORD94,3076.6%
JEEP WRANGLER65,7604.6%
TOYOTA SIENNA65,7264.6%
FORD MAVERICK51,1993.6%
TOYOTA HIGHLANDER49,6373.5%
FORD F SERIES47,2423.3%
TOYOTA COROLLA46,8053.3%
JEEP GRAND CHEROKEE43,0733.0%
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Top 10 Hybrid Models Registered in the US in 2023 (Retail – Excludes Fleet)
ModelVehicle CountPercent Contribution
HONDA CR-V189,36915.2%
TOYOTA RAV4167,39913.5%
HONDA ACCORD90,1187.3%
JEEP WRANGLER51,7504.2%
TOYOTA SIENNA46,1073.7%
TOYOTA HIGHLANDER44,5063.6%
FORD MAVERICK43,7103.5%
TOYOTA COROLLA41,9473.4%
KIA SPORTAGE37,5423.0%
HYUNDAI TUCSON35,6512.9%
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TOP 10 EV Models Registered in the US in 2023 (Total)
ModelUnits% Contribution
TESLA MODEL Y384,59333.5%
TESLA MODEL 3212,03418.5%
CHEVROLET BOLT62,7755.5%
FORD MUSTANG MACH-E38,6603.4%
VOLKSWAGEN ID436,9613.2%
HYUNDAI IONIQ 531,2862.7%
TESLA MODEL X28,7142.5%
RIVIAN R1S25,4172.2%
FORD F SERIES24,6742.1%
KIA EV618,2431.6%
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TOP 10 EV Models Registered in the US in 2023 (Retail – Excludes Fleet)
ModelUnits % Contribution
TESLA MODEL Y375,14037.1%
TESLA MODEL 3199,18319.7%
CHEVROLET BOLT40,7294.0%
VOLKSWAGEN ID434,8583.4%
FORD MUSTANG MACH-E29,1602.9%
HYUNDAI IONIQ 526,9792.7%
TESLA MODEL X26,4732.6%
RIVIAN R1S23,8412.4%
FORD F SERIES16,3941.6%
TESLA MODEL S15,1111.5%
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Ten States with Highest EV Retail Market Share in 2023
StateEV New
Registrations
Total New Light Vehicle
Retail Registrations
EV Share of
Industry in State*
CALIFORNIA354,4191,501,18423.6%
WASHINGTON40,243235,85717.1%
DISTRICT OF COLUMBIA2,35514,00716.8%
HAWAII5,98645,07513.3%
COLORADO25,848195,83613.2%
OREGON16,347125,11913.1%
NEVADA13,577108,46912.5%
NEW JERSEY48,226428,38911.3%
MARYLAND21,321212,89410.0%
ARIZONA25,043254,0469.9%
    
US1,012,25111,926,1288.5%
*EV share of industry in each state is X%.
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