The United States had about 604,638 new battery-electric vehicles (BEV) registrations from January to October, based on Experian’s latest data. That number represents a remarkable year-on-year increase of 60%, according to InsideEVs.
Furthermore, BEVs’ market share had a significant YoY increase from just 2.9% to 5.3%. It also reported a slight increase from last month’s share of 5.2%.
As usual, Tesla leads the US BEV market with its unbeatable share of 65%. On the other hand, non-tesla BEVs had a 35% market share, representing a significant YoY increase of 81%.
BEV registrations in January-October 2022:
- Tesla (65% BEVs): 391,937 (up 50.2% from 260,932)
- Non-Tesla (35% BEVs): 212,701 (up 81% from 117,534)
- Total: 604,638 (up 60% from 378,466) and 5.3% share (up from 2.9%)
Top brands/models in the BEV segment
Tesla dominates the market with 391,937 registrations, followed by another American automaker Ford with 44,219 registrations in the first ten months of 2022.
In contrast, South Korean automaker Hyundai Motor Group had sluggish growth in the US market, with a 3.8% market share of 23,210. Another South Korean automaker Kia was third on the list with 25,911 (4.3% share). Notably, the performance of these foreign automakers was adversely affected by the stringent rules under the newly passed Inflation Reduction Act (IRA).
Meanwhile, German automaker BMW secured the 5th spot with 8,524 registrations.
Selected BEV registrations in the US – January-October 2022:
- Tesla – 391,937 (up 50.2%)
- Ford – 44,219 (up 116% year-over-year, 7.3% share)
- Kia – 25,911 (4.3% share)
- Hyundai – 23,210 (3.8% share)
- BMW – 8,524 (up from 973 a year ago)
- Polestar – 7,576 (nearly tripled year-over-year)
- Lucid – 2,571 (up from 9 a year ago)
- Nissan – N/A (down 13%)
- Volkswagen – N/A (down 1.4%)
- Porsche – N/A (down 26%)
- Jaguar – N/A (down 72%)
- Genesis – N/A (0.2% share)
- Toyota (bZ4X) – 124
- Subaru (Solterra) – 122
As for the best-selling models, Tesla electric vehicles dominated the top 5 with only 1 Ford model. The Model Y, Model 3, Model X, and Model S landed 1st, 2nd, 4th, and 5th place, respectively, while the Ford Mustang Mach-E placed 3rd.
To fulfill the top 10 rankings, the Hyundai Ioniq 5 secured the 6th spot. It is followed by the Chevrolet Bolt EUV (7th), Kia EV6 (8th), Volkswagen ID.4 (9th), and Rivian R1T (10th).
Top brands in the Premium/luxury segment
The leading American automaker saw another win in the premium/luxury segment with a YoY market share increase of 50.2% to 391,937. Meanwhile, the trailing 4th to 5th brands saw a YoY market share decrease.
Premium brand registrations in the US – January-October 2022:
- Tesla: 391,937 (up 50.2%)
- BMW: 267,151
- Mercedes-Benz: 227,375
- Lexus: 225,235
- Audi: 151,354
There is no denying that the Musk-led automaker dominates the US all-electric market. Tesla has provided numerous sophisticated and high-tech electric vehicle products that nearly every brand uses as an example when developing their models.
