Electric car sales continued to increase year-over-year in November, although the most recent registration data reveals that the rate of growth is decreasing.
Registration data lags behind sales/deliveries, by at least several weeks, but can be used as a proxy of sales, especially since not all sales numbers are publicly available (specifically on a monthly basis).
According to the registration data from S&P Global Mobility (via Automotive News), the total number of battery electric car (BEV) registrations in November amounted to 89,527 (up 30% year-over-year). That’s about 7.7% of the total market (up from 6.5% a year ago).
Get Fully Charged
Is 10% BEV share possible in 2024?
The BEV market in the United States is growing, but not without challenges. There is a chance that in 2024, for the very first time, we will see a 10% share of all-electric cars.
The report indicates that Tesla noted just an 8.6% year-over-year increase in November to 42,737, which was 47.7% of the total BEV segment (compared to 57.1% a year ago).
This means that the non-Tesla BEV sales increased by 59% year-over-year to 46,790. We find this number very interesting, as it shows that Tesla now expands much slower than the overall BEV industry.
Ford was the second-best brand with 7,787 units sold (up 21% year-over-year) and an 8.7% share. Chevrolet, with 4,172 units sold, was 0.2% down (4.7% share).
Meanwhile, some of the other brands more than doubled their BEV sales. Rivian went up 146% year-over-year in November to 6,513 (7.3% of the BEV segment). Kia and Hyundai more than doubled to 2,278 and 3,678 units, respectively. Some other outstanding results were noted by BMW (up 42% to 4,046) and Mercedes-Benz (up 160% to 3,688). Audi more than doubled to 2,523 units. Nissan was up 58% to 1,607.
During the first 11 months of 2023, registrations exceeded 1 million units, which is about 7.4% of the total market (up from 5.4% at this same time in 2022). We already know that some 1.1 million BEVs were sold in 2023.
Here is a quick look at some of the all-electric models, although unfortunately not all are listed.
BEV registrations (select models) – January-November 2023:
- Tesla Model Y – 345,512 (up 77%)
- Tesla Model 3 – 194,087 (up 12%)
- Chevrolet Bolt EV/EUV: 59,372 (up 92%)
- Ford Mustang Mach-E: 34,314 (no change)
- Volkswagen ID.4: 33,218 (up 104%)
- Hyundai Ioniq 5: 29,366 (up 40%)
- Tesla Model X: 24,643 (down 15%)
- Ford F-150 Lightning: 21,475 (up 111%)
- Kia EV6: 17,069 (down 11%)
- Tesla Model S: 14,321 (down 44%)
* only models and brands, for which data are available