Tesla Doubled New Model Y Registrations In A Year | The Morning Shift

We’ve had a sense that Tesla’s early 2023 price cuts might’ve worked, but the latest registration data from Experian has really put the EV maker’s uptick in sales into perspective. Overall, 52 percent more of the brand’s cars hit public roads over the recent January-to-April period than during the same time in 2022.

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The biggest winner among the four pillars was the Model Y, for which registrations increased a whopping 99 percent. As Automotive News notes, Elon Musk has been targeting 50 percent annual growth in the United States, and he seems to have achieved it already. From Auto News’ report:

The Model 3 sedan grew by 28 percent, Experian said. The Model X crossover’s registrations rose 15 percent, while the Model S sedan’s fell 67 percent.

Tesla’s U.S. registrations totaled 211,842 through April, which was good for a 60.8 percent share of the electric vehicle market, the data showed. That was a slight improvement over its 60.3 percent share in the first quarter.

Tesla does not break out U.S. sales as part of its global sales report, but registrations serve as a proxy. Tesla no longer maintains a press office to provide comment.

The Model Y and 3 led Experian’s charts over that span, followed by the Chevrolet Bolt EUV, Volkswagen ID.4, and the smaller Chevrolet Bolt. In fact, the Bolt duo combined for total registrations of 24,689 — a staggering increase from a mere 1,645 a year earlier. Of course, about a year ago we were firmly in the waning days of the battery-related Bolt stop sale. Still, claiming 7.1 percent of the national EV market share isn’t too shabby, particularly for a nameplate that General Motors is ambivalent about continuing to exist.

Here’s how all of this growth looks for the EV segment as a whole:

EVs made up 7 percent of U.S. light-vehicle registrations through April, compared with 4.4 percent a year earlier. The 7 percent share was the same as in the first quarter, Experian data showed.

New EV registrations totaled 348,258 through April compared with just over 5 million for the entire light-vehicle market. EV registrations grew 72 percent compared with the year-earlier period, Experian said.

Amidst all this, the Model X found itself in the top 10 models for the start of 2023, at No. 6 behind the Bolt and ahead of the Mustang Mach-E and Hyundai Ioniq 5. That’s impressive for an SUV that begins at almost $100,000. The Model S fell outside the list, which tracks when you consider it’s 11 years old. You have to wonder if Tesla will ever build a new one.