The battery-electric vehicle market in the United States has been gradually expanding its share each month with promising near-term prospects, as per InsideEVs.
BEV registrations
There have been approximately 530,577 new BEV registrations in the US in the first nine months of 2022, based on Experian’s most recent data. Remarkably, it has increased by around 57% since last year.
Approximately 5.2% of all registrations were BEVs, up from 2.8% a year prior. The BEV market is still largely under Tesla’s grip, with a 65% share.
However, compared to Tesla‘s 50% YoY growth, non-Tesla BEV sales are currently expanding at a substantially quicker rate of 71%.
Interestingly, Tesla’s market share in the US BEV market is predicted to drop to under 50% in Q1 2023 and roughly 40% by the end of 2023, as per EV subscription company Autonomy.
BEVs registrations from January to September 2022:
- Tesla (65% BEVs): 346,827 (up 50.3% from 230,779)
- Non-Tesla (35% BEVs): 183,750 (up 71%)
- Total: 530,577 (up 57%) and 5.2% share (up from 2.8%)
Top brands/models
It is no doubt that the American automaker dominates the US BEV market. In fact, four Tesla models are among the top five all-electric vehicles.
Remarkably, the Model Y, with 156,455 registrations, and Model 3, with 144,081, jointly account for 57% of the nation’s BEV market. However, the Model 3’s YTD market share is increasing a little bit faster than the Model Y.
The two Tesla cars are followed by the Ford Mustang Mach-E with 38,056 registrations. It is also expanding slightly faster than the Tesla Model 3/Model Y pair despite production limitations.
Brands
The Hyundai Motor Group (Hyundai, Kia, and Genesis brands) has registered 46,597 more vehicles in the first nine months than Ford, with only 38,056 units.
The competition has barely begun, though. We must recognize that General Motors is also gearing up for significant growth with the popular Bolt EV/EUV and the Ultium-based portfolio.
Selected BEV registrations in the US – January-September 2022:
- Tesla – 346,827 (up 50.3%)
– Model Y: 156,455 (up 30%)
– Model 3: 144,081 (up 46%)
– Model S: 22,856
– Model X: 23,435
- Ford – 38,056 (7.2% share)
– Mustang Mach-E: 28,088 (up 59%)
– E-Transit: N/A
– F-150 Lightning: N/A
- Hyundai Motor Group – 46,597 (8.8% share)
- Hyundai – N/A
– Ioniq 5: 18,202
- Genesis – N/A
- Kia – N/A
– EV6: 17,149
– Niro EV: N/A
- Chevrolet – 21,579 (down 16%)
– Chevrolet Bolt EV/Bolt EUV: 15,403
- Volkswagen ID.4 – 11,001 (down 8.5%)
- Nissan LEAF – 9,261
- Polestar 2 – N/A
- Porsche Taycan family – 5,664 (down 23%)
- Jaguar I-PACE – 292 (down 71%)
- Audi – N/A
Premium/luxury segment
Tesla has always been listed among luxury and premium brands in sales volume. That said, it is hardly surprising that established brands like BMW, Mercedes-Benz, Lexus, and Audi are now far behind it.
Furthermore, the majority of the premium brands’ sales volume has dropped from last year. Meanwhile, several brands have recently been able to buck the downward trend and reported gains in the third quarter.
- Tesla: 346,827 (up 50.3%)
- BMW: 236,513 (down 9.6%)
- Mercedes-Benz: 204,120 (down 3.9%)
- Lexus: 201,830 (down 18.6%)
- Audi: 132,231 (down 22.2%)
It is clear that Tesla has continued to rule the US BEV market. However, we cannot predict how these brands will fare in the coming years.
