More than 300,000 new electric vehicles were sold in the United States in the third quarter, representing a notable 49.8% increase from Q3 2022 meaning EVs accounted for 7.9% of total industry sales.
Data released by Kelley Blue Book reveals that 313,086 new EVs were sold across the country last quarter. This is up from the 298,039 that were sold in Q2 and the EV share of 7.9% of the market is also up from the 7.2% in Q2.
Tesla continues to dominate the EV market but its share of the market has started to fall. In Q1, no less than 62% of all new EVs sold in the U.S. were from Tesla. In Q3, that figure had slipped to 50%, the lowest level on record. While Cox Automotive notes that the Cybertruck could reverse this trend, there’s no doubt that Tesla is facing stiff competition.
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