The US electrical automobile market nearly doubled final yr, with BEV registrations surging to five.6 % of light-vehicle registrations, in comparison with 3.1 % in 2021.

New electrical automobile registrations numbered 756,534 in 2022 (+57 %), Experian information cited by Automotive Information exhibits. Apparently, the spectacular progress of the EV market occurred because the total light-vehicle market noticed an 11 % drop in registrations to 13.6 million.

Tesla accounted for 64 % of the US EV market, with 484,351 registrations – a 41 % enhance over 2021. Virtually half of these have been made up by the Tesla Mannequin Y, with 228,312 new registrations (up 35 %). 

Among the many high 5 hottest EVs final yr, Tesla had 4, with its Mannequin Y, Mannequin 3, Mannequin S, and Mannequin X being joined by the Ford Mustang Mach-E, which ranked third.

Regardless of the rise in registrations, Tesla’s share of the US EV market fell to 64 % final yr from 71 % in 2021 after launches of widespread new fashions such because the Cadillac Lyriq, Ford F-150 Lightning, Kia EV6, and extra.

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Ford ranked second behind Tesla in US EV registrations with a 7.5 % market share and 56,464 registrations (greater than double in comparison with 2021), whereas Chevrolet took third place with 4.8 % market share and 36,245 registrations (+41 %), largely because of the budget-priced Bolt EV and EUV.

Hyundai Motor Group manufacturers adopted, Kia with 3.8 % market share and 28,506 registrations (greater than triple in comparison with 2021) and Hyundai with 3.5 % market share and 26,825 registrations (+142 %). Audi was the best-selling conventional luxurious model with 2.1 % market share.

That stated, legacy automakers struggled to keep up the mandatory manufacturing ranges to fulfill demand. As well as, huge manufacturers reminiscent of Chevrolet have but to kick off their deliberate EV offensive. The bowtie model is making ready to launch the Equinox EV and Blazer EV SUVs and Silverado EV pickup this yr.

Analysts anticipate Tesla’s market share to recede as legacy automakers and EV startups reminiscent of Rivian ramp manufacturing. Nonetheless, the corporate’s gross sales management is prone to stay as Tesla is proving a tough rival to dislodge atop the gross sales charts. 

The EV maker continues to have a “super first-mover benefit because it was the primary model to supply actually aspirational EVs to the early adopters,” Ed Kim, president and chief analyst at AutoPacific, instructed Automotive Information.