New EV registrations within the US had been up 23% in December as adoption continues to develop. Though Tesla’s 11% progress lagged behind the market, the automaker nonetheless dominated with 56% of US EV registrations in 2023. In the meantime, a number of smaller gamers, together with Hyundai and Rivian, noticed promising progress.
The US electrical car market remains to be rising
Regardless of some media claims that electrical automotive gross sales are “falling,” EV registrations rose 23%, accounting for a near-record of 8.8% of the US mild car market in December 2023.
For the total yr, new EV registrations had been up 52% year-over-year (YOY), with 7.7% of the market. That’s up from 5.7% in 2022.
In response to new knowledge from S&P World (by way of Automotive Information), Tesla had 69,932 new registrations in December, up 11% YOY. All Tesla Fashions noticed progress in December, besides the Mannequin 3, which fell 22% to 18,252. The drop was seemingly attributable to patrons ready for the brand new Mannequin 3 (pictured beneath), which launched final month.
Ford had 8,149 new EV registrations in December, up 13% YOY. The Mustang Mach-E was its top-seller (+16%), adopted by the F-150 Lightning (+23%). Registrations of Ford’s E-Transit fell 42%.
As Chevy phases out the present Bolt EV, registrations of the electrical automotive fell 32%. Nevertheless, the model nonetheless positioned third with 63,659 EV registrations in 2023 or 5.6% of the market.
Tesla nonetheless led US EV registrations in 2023
Tesla nonetheless dominated the market in 2023 with 642,496 registrations, or 56.2% of the market. The Mannequin Y continued its sizzling streak with 385,180 registrations final yr, up 72% from 2022. S&P World mentioned Tesla’s Mannequin Y was the fifth best-selling car (EV or gasoline) within the US behind Ford, Chevy, and Ram pickups and the Toyota RAV4.
| Rank | Mannequin | 2023 US EV registrations | % of market |
| 1 | Tesla | 642,496 | 56.2% |
| 2 | Ford | 69,163 | 6% |
| 3 | Chevrolet | 63,659 | 5.6% |
| 4 | Hyundai | 51,411 | 4.5% |
| 5 | Rivian | 46,319 | 4% |
| 6 | BMW | 42,997 | 3.8% |
| 7 | Mercedes-Benz | 38,320 | 3.3% |
| 8 | Volkswagen | 37,040 | 3.2% |
| 9 | Kia | 30,868 | 2.7% |
| 10 | Audi | 24,700 | 2.2% |
Ford edged out GM for second with 69,163 new EV registrations within the US in 2023. In the meantime, smaller manufacturers, together with Hyundai and Rivian, noticed promising progress.
Hyundai was fourth with 51,411 registrations, or 4.5% of the market, adopted by Rivian in fifth with 46,319.
The report notes Hyundai’s December registrations had been sturdy at 3,327, up 62% YOY. The expansion was led by the IONIQ 5, IONIQ 6, and Kona Electrical.
Rivian additionally had a robust December with 5,832 registrations (+73%) led by the R1S. The expansion was sufficient for the EV maker to assert 4% of the market in 2023.
Luxurious manufacturers BWM (42,997), Mercedes-Benz (38,320), and Audi (24,700) all confirmed progress in EV registrations final yr.
Whereas American automakers Ford and GM have scaled again EV investments, abroad rivals and startups like Rivian are taking benefit. Hyundai expects to open its first EV and battery plant within the US later this yr, enabling its automobiles to qualify for the $7,500 IRA tax credit score.
In the meantime, Rivian is unveiling its next-gen R2 mannequin subsequent month, which will likely be a extra compact, lower-cost EV. The EV maker opened the R2 web site this week, teasing the mannequin for the primary time.
