U.S. EV Registrations Accounted For 7.8% Of The Car Market In January 2024

The year-over-year development charge slowed down to fifteen%.

January introduced a 4.7% year-over-year improve in new light-vehicle registrations in the US. 1.1 million automobiles have been registered. All-electric car (EV) registrations barely outpaced the overall market, however the development charge is considerably slower than in 2023.

In line with S&P World Mobility’s information (by way of Automotive Information), battery-electric vehicles famous 89,042 new registrations (up 15% year-over-year). The expansion is optimistic, nonetheless, the typical in 2022 and 2023 was above 50%. (Observe that registration information lags behind gross sales and deliveries by at the least just a few weeks, however it may be used as a proxy of gross sales, particularly since not all gross sales numbers are publicly accessible on a month-to-month foundation.)

In January, new EV registrations accounted for 7.8% of the market, in comparison with 7.1% a 12 months in the past, the report says. For the final couple of months, the share was often between 7 and eight %, often exceeding 8%.

In line with the article, Tesla was accountable for 48,757 new registrations, up 15% year-over-year. That is about 54.8% of all EV registrations. Two-thirds of the quantity falls on the Mannequin Y (32,248 registrations), which alone accounts for 36% of the complete all-electric automotive phase.

It additionally signifies that the non-Tesla EV registrations amounted to 40,285, rising at an analogous charge.

S&P World Mobility’s information reveals that Ford was quantity two with 5,429 EV registrations, however that is a 17% year-over-year decline. Chevrolet maintained third place amongst manufacturers, however the decline is very large at 42% year-over-year, with out the Chevrolet Bolt EV/Bolt EUV duo (manufacturing discontinued).

Probably the most fascinating issues is the robust place of Hyundai (4,144 and 79% improve) and Rivian (3,818 and 46% improve). Kia can be rising quick, which enabled the broader Hyundai Motor Group (Hyundai, Kia, and Genesis) to stay the second largest automotive group within the EV phase behind Tesla (8,262 complete).

BEV registrations (choose manufacturers) in January 2024 (YOY change):

• Tesla: 48,757 (up 15%) and 54.8% market share
• Ford: 5,429 (down 17%) and 6.1% market share
• Chevrolet: 4,353 (down 42%)
• Hyundai: 4,144 (up 79%)
• Rivian: 3,818 (up 46%)
• Kia: 3,717 (greater than doubled)
• BMW: 3,564
• Mercedes-Benz: 3,341
• Cadillac: 2,145
• Volkswagen: 1,836 (down 47%)
• Audi: 1,620
• Nissan: 1,393
• Fisker: 640
• Toyota: 631
• Lexus: 527
• Subaru: 520
• Volvo: 431
• Porsche: 406
• Genesis: 401
• Polestar: 364
• Lucid: 357
• Mini: 280
• VinFast: 117
• Jaguar: 100
• Rolls-Royce: 51
• Fiat: 29
• GM’s Cruise: 23
• Mazda: 22
• GMC: 16
• BrightDrop: 9
• Ram: 1

When it comes to fashions, the Tesla Mannequin Y stays the most well-liked all-electric automotive within the U.S. with the Tesla Mannequin 3 in second place. The discontinued Chevrolet Bolt EV/Bolt EUV duo in third place is a little bit of a shock, and one other one is the Tesla Mannequin X forward of the Ford F-150 Lightning and some crossover/SUV fashions.

BEV registrations (choose fashions) – January 2024:

• Tesla Mannequin Y – 32,248 (up 35%)
• Tesla Mannequin 3 – 11,739 (down 23%)
• Chevrolet Bolt EV/Bolt EUV: 4,119 (down 45%)
• Tesla Mannequin X: 3,267 (up 32%)
• Ford F-150 Lightning: 2,956 (up 4.5%)
• Hyundai Ioniq 5: 2,436 (up 47%)
• Cadillac Lyriq: 2,145
• Ford Mustang Mach-E: 1,977 (down 38%)
• Volkswagen ID.4: 1,836 (down 47%)
• Tesla Mannequin S: 1,431 (up 68%)
• Kia EV9: 1,361 (up 32%)
• Kia EV6: 1,338 (up 32%)
• Mercedes-Benz EQE SUV: 1,091
• Hyundai Ioniq 6: 1,063
• Kia Niro EV: 1,018 (up 36%)
• Rivian R1T: 762 (down 44%)
• Chevrolet Blazer EV and Chevrolet Silverado EV (mixed): 234
• Tesla Cybertruck: 72

* solely fashions and types, for which information can be found