Americans bought more than 250,000 electric vehicles (EVs) in the first three months of 2023. They’re on pace to purchase more than a million EVs annually for the first time.
Kelley Blue Book parent company Cox Automotive reports that Americans purchased 42 different models of EVs in the first quarter. A year ago, that same figure was 34. “Choice is expected to expand further in every quarter of 2023,” the company says.
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Counting all EVs, including GMC Hummers and Mazda MX-30s, the Kelley Blue Book team estimates EV sales in Q1 increased by 44.9% year over year and reached 258,882, a record quarter for the U.S. market.
Fully 7.2% of new car sales last quarter were electric. Just two years ago, 3.2% of new cars sold were EVs.
“Many analysts talk about tipping points in the industry when volume quickly accelerates,” Cox Automotive says. “Considering automaker investments and future product plans on the table, that tipping point may well be fast approaching, if not already here.”
Tesla’s heavy price cuts helped drive up the numbers. “Tesla sales were up 24.6% year over year, and the EV pioneer continues to be both the industry’s top-selling luxury make and EV make by far.”
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Tesla’s share of the EV market, however, fell to 62.4% — down from 79% in 2020.
General Motors took second place in EV sales on the strength of its Chevy Bolt. Ford came in third. Hyundai and Kia saw their EV sales decrease, possibly because their products do not qualify for federal EV tax credits.
