Rapid Growth in BEV Registrations
In the first five months of 2023, the U.S. has witnessed a remarkable surge in all-electric vehicle (BEV) registrations, totaling approximately 447,500 units. This represents a substantial 68% increase compared to the same period last year, with BEVs now making up about 7% of the total vehicle market, up from 4.6% in 2022. May alone saw close to 100,000 new BEV registrations, reflecting the ongoing shift toward electric mobility.
Tesla Dominates, Non-Tesla EVs on the Rise
Tesla continues to lead the BEV market with a commanding 60.5% share, having registered 270,698 units by the end of May. Despite this dominance, non-Tesla BEVs have surged by 103% year-over-year, capturing 39.5% of the market. Brands like Chevrolet, Ford, and Volkswagen are increasingly making their mark, with Chevrolet and Ford registering 29,282 and 22,425 units, respectively, and Volkswagen’s ID.4 showing significant growth.
Leading Models and Market Trends
The Tesla Model Y remains the top performer with nearly 168,000 registrations, driven by strategic price reductions that doubled its sales compared to last year. The Tesla Model 3 follows with 87,200 registrations, while the Volkswagen ID.4 emerges as a strong competitor in the electric SUV segment. New entrants like the Toyota bZ4X and Subaru Solterra are also beginning to make their presence felt in the growing BEV market.