Despite numerous challenges to automakers, including production shutdowns and supply chain constraints, Q1 of 2022 was good for those who are producing electric vehicles (EVs).
EV registrations surged 60 per cent to 158,689 total vehicles in the first three months of the year. Overall, this means that 4.6 per cent of light vehicle registrations in the United States were EVs.
Unsurprisingly, Tesla dominated with four models in the EV top 10 and notched 113,882, or over 71 per cent of total EV registrations, according to data from Experian (via Automotive News).
While on the EV sales side, Cox Automotive put EV sales at 173,561 or 5.2 per cent of the light-vehicle market. Tesla saw a 59 per cent increase in sales with 113,882 in Q1.
This puts Tesla at 65 per cent of the market share for EVs.
According to Cox Automotive, this is not a big surprise.
Tesla is still the dominant brand in the pure EV market, but new product from Ford, Hyundai, Kia, Volkswagen and Volvo are driving solid growth.
No other automaker got into the double digits in terms of registrations. However, as more cars come out of the factory and onto the production line, we may see an increase in sales and registrations for traditional automakers.