Tesla is far ahead as Model Y and Model 3 dominate the U.S. electric vehicle market in the first three quarters

The latest data shows that Tesla Motors led the U.S. market in electric vehicle registrations in the first nine months of this year. Despite facing an increasingly competitive environment, the electric car maker still recorded a significant increase in registrations compared with the same period last year. According to Experian vehicle registration data,From a brand perspective, Tesla leads the U.S. market with 489,454 registered vehicles, a year-on-year increase of 41%.. Following Tesla are Chevrolet (50,160 units) and Ford (46,547 units).

Tesla's registrations are mainly composed of Model Y (293,398 units) and Model 3 (165,543 units), while Model X ranks eighth. Model S did not make the top 10 list.

From January to September this year, Tesla Model Y and Model 3 were the two most registered models in the United States, far ahead of other competitors.

Tesla does not disclose its sales data by country or model, so registration data is often used to predict the car company's sales. Other car companies also do not share electric vehicle model data in sales reports.

U.S. electric car sales could top 1 million this year

The data also shows that from January to September this year, the total number of electric vehicles registered in the United States was 852,904, a year-on-year increase of 61%.

During this period, electric vehicle registrations accounted for 7.4% of the total market, compared with only 5.2% during the same period in 2022. The data also suggests that if the momentum continues, U.S. sales of electric vehicles could top one million for the first time in 2023.

Demand headwinds

While EV market share is still rising, the report comes at a time when the EV market is encountering headwinds. Automakers such as General Motors and Ford have recently slowed production plans for electric vehicles, citing demand issues.

Cox Automotive warned in a report last month that new models are being produced faster than consumers can buy them.

"Most analysts expect a flood of new electric vehicles to emerge over the next three years, with supply likely to double by 2027," Cox wrote in the report. “Recently, the supply of vehicles has grown exponentially, while consumer acceptance has grown in a more linear fashion.”