The U.S. electric vehicle market is continuing to grow, contrary to the slowdown in demand that many headlines suggest, according to CleanTechnica, a website focused on the clean technology and renewable energy industries. Compared with the fourth quarter of 2022, U.S. pure electric vehicle sales increased by 29% in the fourth quarter. Compared with the fourth quarter of 2021, sales increased by 122%.
The market also continues to diversify, with more electric models being launched every quarter. In fact, since the fourth quarter of 2021, at least one new pure electric vehicle model has been launched in each quarter of the past two years.
Despite all this growth and expansion, Tesla still dominates the market. In the fourth quarter of 2023, Tesla accounted for 56.3% of all pure electric vehicle sales in the United States.
By far, the fastest-growing model in sales over the past few years has been the Tesla Model Y. Followed by Chevrolet Bolt, Ford F-150 Lightning, Rivian models, Hyundai IONIQ5 and Volkswagen ID.4. If the sales of all these models in the fourth quarter of 2023 are added together, compared with the fourth quarter of 2021, their contribution to the overall sales growth is only slightly higher than that of Model Y.