Posted 2/16/2024, 9:22:00 PM
U.S. Electric Vehicle Sales Accelerate in 2023, Tesla Dominates While Competition Grows
- U.S. EV registrations hit 1.1 million in 2023, making up 7.7% of total light-duty vehicle registrations, up from 5.7% in 2022
- Tesla led EV registrations with over 640,000, capturing over 56% market share; Model Y was top selling EV
- Non-Tesla EV sales grew 84% year-over-year to 500,000 units
- Ford was second in EV registrations after Tesla; Rivian cracked the top 5 brands
- Questions remain if 10% EV share of total car market is possible in 2024 amid slower late-2023 growth