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Visualizing U.S. EV Sales in H1 2023



Visualizing U.S. EV Sales in H1 2023

Visualizing U.S. EV Sales in H1 2023

This graphic breaks down the number of EVs each brand sold in the U.S. during the first six months of 2023, from Jan 1 to June 30th.

The main takeaway of this data, which comes from S&P Global Mobility, is that Tesla has outsold all of its rivals combined over the time period. See below for the data in tabular format.

VW Group29,137
Hyundai Motor Group22,875
Volvo Polestar12,995
Toyota Motor Corp.6,039

Based on these numbers, Tesla’s H1 2023 sales of 325,291 EVs was 61.5% greater than the collective sales of its competitors (201,408 EVs).

Tesla’s Price War

A key driver of Tesla’s strong performance has been its ability to repeatedly reduce prices on popular models like the Model Y. The price cuts are possible thanks to the company’s relatively strong profit margins, which we covered in a previous graphic.

In that graphic, it was revealed that Tesla earned substantial net profits of $9,574 per vehicle sold, significantly higher than rivals like GM ($2,150), Toyota ($1,197), and Volkswagen ($973).

Tesla’s first round of price cuts came in 2022, with several more following throughout 2023. This has put significant pressure on competitors like Ford, which are already struggling with EV profitability. For example, Ford Model e (Ford’s EV division) has posted losses of $900M in 2021, $2.1B in 2022, and an expected $3B in 2023.

Taking Advantage of Federal EV Credits

Another factor to consider is the Inflation Reduction Act of 2022, which revised tax credits for EVs. In short, EVs (and their batteries) must now be assembled in North America to qualify.

This legislation change has benefitted Tesla, as it means many foreign competitors like VW, BMW, and Hyundai no longer qualify for the credit.

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Ranked: Electric Vehicle Sales by Model in 2023

Today, electric vehicle sales make up 18% of global vehicle sales. Here are the leading models by sales as of August 2023.



The Highest Electric Vehicle Sales, by Model

Ranked: Electric Vehicle Sales by Model in 2023

Electric vehicle (EV) sales are gaining momentum, reaching 18% of global vehicle sales in 2023.

As new competitors bring more affordable options and new performance features, the market continues to mature as customers increasingly look to electric options.

This graphic ranks the top-selling EVs worldwide as of August 2023, based on data from CleanTechnica.

The Best Selling EVs in 2023 (Through August)

Below, we show the world’s best selling fully electric vehicles from January to August 2023:

ModelCountryVehicles Sold
(Jan-Aug 2023)
Tesla Model Y🇺🇸 U.S.772,364
Tesla Model 3🇺🇸 U.S.364,403
BYD Atto 3 / Yuan Plus🇨🇳 China265,688
BYD Dolphin🇨🇳 China222,825
GAC Aion S🇨🇳 China160,693
Wuling HongGuang Mini EV🇨🇳 China153,399
GAC Aion Y🇨🇳 China136,619
VW ID.4🇩🇪 Germany120,154
BYD Seagull🇨🇳 China95,202

As we can see, Tesla‘s Model Y still holds a comfortable lead over the competition with 772,364 units sold. That’s more than double the sales of the #2 top selling vehicle, Tesla’s Model 3 (364,403)

But it’s hard to ignore the rising prevalence of Chinese EVs. The next five best selling EV vehicles are Chinese, including three from BYD. The automaker’s Atto 3 (or Yuan Plus, depending on market), is being sold in various countries including Germany, the UK, Japan, and India.

Meanwhile, Chinese automaker GAC Group also had two models of its Aion EV brand make the rankings, with the Aion S selling 160,693 units so far.

Regional market strength is also clear. For Volkswagen’s ID.4 model (120,154 units sold), Europe and China account for the majority of sales.

Given growing cost efficiencies and changing consumer behavior, global EV sales are projected to make up half of new car sales globally by 2035, according to forecasts from Goldman Sachs.

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