ATLANTA – Sales of electric vehicles set a record in the United States in 2023 with nearly 1.2 million models being sold, according to data released today by Kelley Blue Book. EV sales represented a 7.6 percent share of the total U.S. vehicle market, up from a 5.9 percent share in 2022.
EV sales represent the fastest-growing car sales category, said KKB, a Cox Automotive company. In the fourth quarter of 2023, EVs sales hit records for both sales (317,168) and market share (8.1 percent of all new cars sold).
Compared to Q4 in 2022, sales were in 52 percent higher in 2023. The average price paid for a new EV in December 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.
“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. Transaction price parity between internal combustion vehicles and EVs looks more realistic in the coming years, too, presenting good news for buyers who currently see EV pricing as out of reach.”
Cox Automotive projects that the EV share of the total U.S. market will reach 10 percent in 2024.
Tesla continues to dominate the market. A total of 55 percent of the EVs sold in the U.S. in 2023 were built by Tesla. Showing growth were German luxury automakers BMW, Mercedes-Benz and Audi as well as German non-luxury brand Volkswagen.
KBB projects that consumers will have more than 70 EV options within the next two years and provided a list of the best-selling electric vehicles of 2023:
(Photos courtesy of Tesla)