United States: All-electric vehicle sales increased in the first quarter of 2023: 257,000 registrations

Tesla’s share fell to 60%, as non-Tesla BEV sales expanded.

Sales of all-electric vehicles in the United States continue to increase at a healthy rate, significantly outperforming the general vehicle market.

According to registration data from Experian (via Auto News), the total number of BEV registrations during the first three months of 2023 was 257,507, which is 63 percent more than last year and about 7 percent of the total market (up from 4.6 percent in the first quarter of 2022).

For reference, the total number of light vehicle registrations reached 3.69 million (up 8.4 percent year-on-year).

Registration data on sales/deliveries lags, at least by several weeks, but can be used as a proxy for sales, especially because sales figures are not publicly available (specifically on a monthly basis).

Tesla reported 155,360 new registrations (up 37 percent year-over-year) in the January-March period, which translates to about 60 percent of the total light-duty electric vehicle segment. These are impressive results, although almost a year ago Tesla’s share was 72 percent.

That allowed us to calculate that non-Tesla BEV registrations were 102,147 (up about 128 percent year-over-year) and a 40 percent share, compared to more than 28 percent in the first quarter of 2022.

BEV registrations from January to March 2023:

• Tesla (60% BEVs): 155,360 (up 37%)
• Non-Tesla (40% BEVs): 102,147 (up about 128% from about 45,000)
• Total: 257,507 (up 63%) and 7% market share (up from 4.6% in Q1 2022)

Obviously, the market is developing and maturing, which means that consumers will have a wider choice of brands and models.

An interesting finding is the brands that expanded their market share in the first quarter, compared to the previous year. Those brands were Chevrolet, Ford, Volkswagen, Rivian, Mercedes-Benz and BMW. Meanwhile, prices for Tesla, Hyundai, Kia, Audi, Nissan and Polestar fell.

The top BEV brands, besides Tesla, are currently Chevrolet (thanks to increased Bolt EV/Bolt EUV sales, but the duo will be discontinued), Ford (though affected by a factory Mach-E upgrade, and the F-150 Lightning battery recall) and Volkswagen (thanks to increased domestic production).

It’s nice to see Rivian finally take off, but premium brands like Mercedes-Benz and BMW are also gaining traction.

BEV Registrations (Selected Brands) – January – March 2023:

• Tesla (60% BEVs): 155,360 (up 37%), 60% (down 72%)
• Chevrolet – 19,947 (up from 477) and a share of 7.7%
• Ford – 13,362 (up 82%) and 5.2% (up from 4.6%)
• Volkswagen – 10,053 (up 244%), 3.9%
• Hyundai – 8,064 (up 16%) and 3.1% (down from 4.4%)
• Mercedes-Benz – 7,168 shares, 2.8% (up from 1.3%)
• Rivian – 7,134 (up from 704), 2.8% share (up from 0.4%)
• BMW – 7,107 and a share of 2.8% (up from 0.1%)
• Kia – 6046 (down 28%) and 2.3% (down 5.3%)
• Audi – 4,494 (up 26%) and 1.7% (down from 2.2%)
• Nissan – 4,365, share 1.7% (down 2.8%)
• Volvo – 2,763 (up 57%), share of 1.1% (unchanged)
• Polestar – 2630 and 1.0% share (less than 1.5%)
• Lucid – 1,739 and 0.7 percent
• Toyota – 1570
• Subaru – 1,399
• Cadillac – 945
• Genesis – 786
• Lexus – 338
• GMC – 17 (Under 79)
• VinFast – 17

In terms of best-selling models (highest-scoring ones, to be exact), the two models at the top are the Tesla Model Y and Model 3. Both have increased, though the Model 3 only slightly (despite price cuts). The most important model is the Model Y, which is up 79 percent year-over-year.

Then we can see the Chevrolet Bolt EV / Bolt EUV, Volkswagen ID.4 and Tesla Model X, ahead of the Ford Mustang Mach-E. We believe that in a few months’ time, we’ll see much better results from the Mach-E, as well as further growth from the Volkswagen ID.4.

US BEV Registrations (select models) – January – March 2023:

• Tesla Model Y – 93,294 (up 79%), share of 36%
• Tesla Model 3 – 52885 (11% increase)
• Chevrolet Bolt EV / Bolt EUV – 19,947 (up from 477)
• VW ID 4 – 10053 (an increase of 244%)
• Tesla Model X – 6545 (up 34%)
• Ford Mustang Mach-E – 6110 (down 12%)
• Hyundai Ioniq 5 – 5,839 (down 6.7%)
• Ford F-150 Lightning – 5652 (increased from 53)
• BMW i4 – 4547
• Mercedes-Benz EQS Sedan and EQS SUV – 4,487 (261% increase).
• Rivian R1T – 4109 (up from 704)
• Kia EV6 – probably close to 4,000
• Rivian R1S – 3,025 (new)
• Volvo XC40 / C40 BEVs – 2,763 (up 57%)
• Mercedes-Benz EQB and EQE Sedan – 2681 (NEW)
• Tesla Model S – 2636 (down 71%)
• Polestar 2 – 2630
• Nissan Leaf – 2,476
• BMW iX – 2232
• Hyundai Kona Electric – 1,975 (up 190%)
• Nissan Ariya – 1,889
• Lucid Air – 1739
• Ford E-Transit – 1600 (up from 348)
• Toyota bZ4X – 1,570
• Subaru Solterra – 1,399
• Cadillac Lyric – 945
• Lexus RZ 450e – 338
• BMW i7 – 328 (NEW)
• Hyundai Ioniq 6-261 (New)
• GMC Hummer EV Pickup / SUV – 17 (down from 79)
• VinFast VF8 – 17