Fully electric vehicles accounted for 7% of new vehicle registrations in the U.S. in January, up from 4.1% in January 2022 — another sign that the EV transition is gaining momentum, Axios‘ Joann Muller reports.
- As the overall EV pie grows, Tesla’s market share continues to shrink.
Why it matters: EVs aren’t just for early adopters anymore.
- With broader selection and some signs of moderating prices, mainstream car buyers are increasingly turning their EV curiosity into purchases.
- At the end of 2022, there were 47 electric models available for sale in the U.S., up from 33 the prior year.
Zoom in: Axios has been tracking the historic shift away from gasoline using vehicle registration data from S&P Global Mobility.
EVs made up 5.6% of all new U.S. car registrations in 2022. That’s up from 3.1% in 2021 and 1.8% in 2020, but still way behind China and Europe.
The big picture: The latest data shows that Tesla continues to dominate, but its market share is shrinking as competitors roll out new models.