Tesla has parlayed early-mover advantage into a mile-long lead over the auto industry in electric vehicle sales.
But the Empire is beginning to strike back with a battalion of competitively specced and priced electric models.
Automakers have introduced nearly 15 EV models in the U.S. since the beginning of 2021, with eight launched this year, according to EV subscription startup Autonomy.
The conga line of new vehicles is putting pressure on Tesla, which saw its share of new-vehicle registrations slide 2.8 percentage points to 65.4 percent through September, according to data from Experian Automotive.
While Tesla dominates the segment, its year-over-year registrations grew 50 percent in the year’s first nine months.
In contrast, legacy automakers and non-Tesla startups saw a 71 percent surge in EV registrations through September, with 183,750 registrations among 22 brands.
Based on the current sales trajectory and new introductions from legacy automakers, Autonomy predicts Tesla’s share of EV sales in the U.S. will drop just below 50 percent in the first quarter of 2023 and fall to about 40 percent by the end of next year.
Overall, EV registrations climbed 57 percent year-over-year to 530,577. Through September, EVs accounted for a record 5.2 percent share of U.S. light-vehicle total registrations, compared with 2.8 percent a year ago.
Hyundai Motor Group took the No. 2 spot in the U.S. EV horse race.
Through September, the South Korean automaker reported 46,597 new registrations of electric vehicles across its Kia, Hyundai and Genesis brands — accounting for a combined 8.8 percent share, according to Experian.
Ford reported 38,056 new registrations, or a 7.2 percent share, fueled by demand for the Mustang Mach-E.
The electric crossover had 28,088 registrations — making it the third-best-selling EV in the U.S. through September.
Hyundai Motor Group has peppered the market with electric vehicles across its three brands catering to multiple price ranges, whereas Ford offers a crossover, pickup and van.
Ford’s “typically conservative approach to new markets” has placed it behind its bolder South Korean rival, said AutoForecast Solutions Vice President Sam Fiorani.
“But Ford is planning big investments in multiple plants with a more diverse portfolio preparing it well for the mid-decade market,” Fiorani said. “It’s a marathon, not a sprint.”
Luxury registrations
| 1. Tesla | 2022 | 346,827 | |
| 2021 | 230,779 | ||
| 2. BMW | 2022 | 236,513 | |
| 2021 | 261,774 | ||
| 3. Mercedes-Benz | 2022 | 204,120 | |
| 2021 | 212,480 | ||
| 4. Lexus | 2022 | 201,830 | |
| 2021 | 247,923 | ||
| 5. Audi | 2022 | 132,231 | |
| 2021 | 169,964 | ||
| 6. Cadillac | 2022 | 96,317 | |
| 2021 | 103,788 | ||
| 7. Acura | 2022 | 75,565 | |
| 2021 | 130,408 | ||
| 8. Volvo | 2022 | 71,828 | |
| 2021 | 97,234 | ||
| 9. Lincoln | 2022 | 62,837 | |
| 2021 | 70,868 | ||
| 10. Porsche | 2022 | 47,057 | |
| 2021 | 51,681 |
Top 10 EV models
| 1. Tesla Model Y | 2022 | 156,455 | |
| 2. Tesla Model 3 | 2022 | 144,081 | |
| 3. Ford Mustang Mach-E | 2022 | 28,088 | |
| 4. Tesla Model X | 2022 | 23,435 | |
| 5. Tesla Model S | 2022 | 22,856 | |
| 6. Hyundai Ioniq 5 | 2022 | 18,202 | |
| 7. Kia EV6 | 2022 | 17,149 | |
| 8. Chevrolet Bolt EUV | 2022 | 15,403 | |
| 9. Volkswagen ID4 | 2022 | 11,001 | |
| 10. Nissan Leaf | 2022 | 9,261 |
Tesla dominates not only EVs but the entire luxury segment — regardless of fuel type. Its new-vehicle registrations from January through September rose to 346,827 from 230,779 a year ago.
Meanwhile, new registrations for BMW — last year’s luxury segment leader — dropped 9.7 percent to 236,513 vehicles.
Even so, strong demand for BMW electric models already on the market — the i4 compact sedan and iX midsize crossover — helped lift the brand’s third-quarter sales by 3.2 percent over the prior year.
Advance orders for BMW’s nearly $120,000 i7 electric sedan account for more than half of next year’s U.S. allocations, BMW of North America sales boss Shaun Bugbee told Automotive News last month.
Mercedes-Benz saw a 3.9 percent dip to 204,120 light-vehicle registrations, while Lexus tumbled 19 percent to 201,830 vehicles, according to Experian.
Four of the five most-registered EVs through September were Tesla crossovers and sedans.
The Model Y crossover and Model 3 sedan led in EV registrations, accounting for 57 percent of total registrations through September.
Model Y registrations climbed 30 percent from the prior year, while Model 3 regs rose 46 percent.
But Mustang Mach-E registrations grew at a faster rate than both Tesla models through September, jumping 59 percent from a year ago.
The Hyundai brand’s Ioniq 5 crossover, with 18,202 new registrations, accounted for a 3.4 percent share of the U.S. EV market through September. And after nine months on the market, the Kia EV6 captured a 3.2 percent share, with 17,149 new registrations.
Brands losing pace in the EV race this year include Chevrolet, which saw a 16 percent dive to 21,579 new registrations through September, while Volkswagen had an 8.5 percent decline to 11,001 new registrations.
The biggest losers were Jaguar, which cratered 71 percent to just 292 new registrations, and Porsche, which dove 23 percent to 5,664.