Tesla Now Accounts For Almost 60% Of The EV Market In The US

3 EVs out of every 5 sold in the US during the first seven months of 2023 was to be a Tesla. 

From how nearly everyone associates the term EV with Tesla, it should already therefore be unsurprising to hear that the American automaker is doing rather well in its home market. That said though, the scale of Tesla ‘doing rather well’ should nevertheless still beggars belief, as it stunningly accounted for 3 out of every 5 electric cars sold in the US during from January to July of this year. 

According to data from Experian published by Automotive News, Tesla saw registrations of 390,377 new cars in the US during the first 7 months of 2023. Just to put it into context, second-place Chevrolet only managed to sell 39,647 EVs in the same period. 

Tesla AP

Tesla’s dominant 59.5% share within the EV market during the first 7 months of 2023 is further highlighted when considering that it had achieved 60,769 new registrations in the US in July alone, while all the other EV manufacturers combined meanwhile only managed to sell 48,566 vehicles. Though in terms of impressive sales statistics, Tesla accounting for an estimated 8.5% of the sales within overall light-vehicle segment in the US in July probably takes the cake. 

Delving deeper into the data, the best-selling Tesla in the US during the first 7 months of 2023 was the Model Y. 236,041 units of this crossover were registered during that time period, which was more than double compared to the same time last year. 

The Model 3 meanwhile also saw a substantial 21% period-on-period rise, with 131,381 new units finding home during the first 7 months of 2023. This number is only predicted to rise too in the coming months, when the facelifted version of this Tesla hatchback arrives at the end of the year. 

This significant increase in overall sales by Tesla of around 50% from the same time last year is attributed to the constant price cuts the automaker was offering for its models, but this however did not much help its larger offerings. That is as while the Model Y and Model 3 were flying off the factory floor, Model S and X registrations fell by 51% (to 8,439 units) and 14% (to 14,462 units) respectively during the first 7 months of this year relative to the same period last year.  

Tesla sedan

As for other players in the US EV industry, the Bolt EV and EUV accounted for all but 25 of the 39,647 units of all-electric vehicles sold by Chevrolet during the first 7 months of 2023. The other 25 units were to be its new Silverado EV pickup, which just went on sale late into July. 

Ford meanwhile placed third in the EV sales ranking with 33,955 new EVs registered during the first 7 months of the year, with its F-150 Lightning accounting for 11,883 units. Fourth and fifth place on the other hand belonged Hyundai and BMW respectively. 

In general, EV registrations saw an increase of 67% over the first seven months over the same time last year. The 655,986 units of all-electric vehicles now account for 7.2% of the overall light-vehicle market in the US, which totalled about 9.1 million registrations during the period of interest. 

Joshua Chin

Automotive journalist. Professional work on and Personal writing found at Instagram: @driveeveryday

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