In North America, the USA has always been the tone-setter in the automotive industry. And given Americans' love of large vehicles and pickup trucks, it was no surprise that the U.S. market lagged behind Europe and other regions around the world when it came to adoption of electric vehicles by consumers.
Kia Soul EV Photo: D.Boshouwers Increased EV sales in the United StatesCounterpoint Technology Market Research reports that U.S. sales of electric vehicles jumped 79 percent year-on-year in the first quarter of 2023. That has led to the USA overtaking Germany to become the world's second-largest market for this type of vehicle. Only China sits in front, says the firm.
When it comes to dominant brands, it's no surprise to find Tesla in the lead with 62.7 percent of sales in the first quarter of this year, with the Model 3 and Model Y the top sellers. Tesla's share has been larger in the past, which means that other manufacturers are quietly eating into its market share. However, the automaker’s dominance is still impressive. To give you an idea, Tesla sold more electric vehicles during Q1 2023 than the next 18 manufacturers combined.