U.S. EV share being driven by Tesla price cuts, registration data shows

Chevrolet was the No. 2 EV brand in January-July with 39,647 new EV registrations, representing a 6 percent share of the electric market. The Bolt EV and slightly larger Bolt EUV were responsible for all of the new registrations except for 25 new Silverado EV pickups. July was the first month the pickup was in the new EV registration data.

Ford was third, with 33,955 new registrations from its Mustang Mach-E crossover, F-150 Lightning pickup and E-Transit 350 commercial van. Ford’s EV share fell to 5.2 percent from 6.9 percent in the year-earlier period. New Mach-E registrations dropped 18 percent from a year earlier, while the Lightning rose nearly fivefold to 11,883.

The Lightning’s new registrations through July made it the bestselling EV pickup compared with 7,611 for the Rivian R1T. Tesla plans to launch its Cybertruck pickup in the coming weeks, but the automaker has said volume production won’t come until next year.

Hyundai was No. 4 with 28,198 new registrations, marking a 61 percent increase over the year-earlier period and giving it a 4.3 percent share. Hyundai’s EV share fell from 4.4 percent in the January-July 2022 period.

BMW was fifth in the EV race with 23,116 new registrations for a 3.5 percent share. In the year-earlier period, BMW new registrations were just 3,174 and its EV share was 0.8 percent. Its best performer through July was the i4 compact sports car with 13,821, the data shows.

At No. 6, Mercedes-Benz had 21,160 new registrations for a 3.2 percent share. Volkswagen was seventh with 20,046 in the seven-month period and a 3.1 percent share. Rivian was No. 8 with 18,359 new registrations for a 2.8 percent share. Kia was ninth with 17,073 for a 2.6 percent share, and No. 10 was Audi with 12,311 new registrations and a 1.9 percent share, Experian said.

On a corporate level, Hyundai Motor Group was No. 2 at 48,373, or 7.4 percent of the segment, leading No. 3 GM with 6.7 percent.

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