The expansion of the EV market in the United States slowed down this year, but it is still growing. In Q1, almost 264,000 new EVs have been registered.
The expansion of the EV market in the United States slowed down this year, but it is still growing. The main finding right now is that Tesla's registrations decreased year-over-year in February and March, offset by the surging non-Tesla EV brands. According to S&P Global Mobility's data, via Automotive News, battery-electric cars noted 96,385 new registrations, which is up 3.8% year-over-year. The growth is growth. However, the average in 2022 and 2023 was above 50%.
That's still over 52% of the total EV segment, but a year ago, it was over 61%, and in 2020, it was some 80%. Tesla was the main reason for the EV registrations' weakness, as the non-Tesla EV numbers in March were up 28% year-over-year to almost 46,000. In Q1, the average EV share is estimated at 6.9%, as almost 264,000 new all-electric cars have been registered. If we look at particular brands in the top 8, all manufacturers are increasing sales, except Tesla.
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