Nearly 1.2 million consumers in the United States purchased an electric vehicle last year, according to the latest data from Kelley Blue Book. The EV category held a 7.6% share of the total U.S. vehicle market in 2023, which is an increase of 5.9% from 2022.
EV sales hit a record for both volume and market share in the fourth quarter of 2023, with sales 52% higher than in Q4 2022. A total of 317,168 EV units were sold between October and the end of December 2023, equivalent to 8.1% of all new cars sold. The average price a consumer paid for a new EV in December last year was $50,789.
“Americans bought a record-shattering 1,189,051 electric vehicles (EVs) last year, and we expect that growth to continue into the future,” said Stephanie Valdez Streaty, Director of Industry Insights at Cox Automotive, in a statement. “The momentum is strong for more when it comes to EVs — more new product, more incentives, more inventory, more leasing and more infrastructure — and that momentum is not going away.”
Valdez Streaty added that the transaction price parity between internal combustion vehicles and EVs appears more realistic as we move forward in the coming years. She also said their team expects that the electric vehicle share of the total U.S. market will rise to 10% this year.
The 10 Best-Selling Electric Vehicles of 2023 in the U.S. are as follows: the Tesla Model Y (394,497 units sold), Tesla Model 3 (220,910 units sold), Chevrolet Bolt EV/EUV (62,045 units sold), the Ford Mustang Mach-E (40,771 units sold), and the Volkswagen ID.4 (37,789). Also included on the list, following the original order, is the Hyundai Ioniq 5, Rivian R1S, Ford F-150 Lightning, Tesla Model X, and BMW i4.
