New EV registrations rose 68% from January to May, with Tesla capturing over half of these sales. - Craig Adderly, Pexels

New EV registrations rose 68% from January to May, with Tesla capturing over half of these sales.

Craig Adderly, Pexels

Overall, the market for electric vehicles across the U.S. is hot, hot, hot. But registration data from Experian shows it's cooled for some EV startups and legacy automakers.

New EV registrations rose 68% from January to May, hitting a record 447,514 vehicles. But the data shows about half of the increase came from Tesla, which sells six out of every 10 EVs in the U.S.

The registration data of Experian between January and May depicts a challenging situation, particularly for EV brands that experienced rapid growth in the previous year but failed to sustain momentum.

Among the brands seeing declines:


Ford’s EV share in the January-to-May period fell to 5% from 6.5% in 2022.

Still, it grew its EV registrations by 30% through May to hit 22,425. However, according to Experian, its growth rate fell considerably below the EV market's overall growth rate of 68% this year and significantly behind its 2022 growth rate of 120%.

Sales of the Ford Mustang Mach-E compact crossover, which was one of last year's top-performing vehicles, declined in the first five months of the year compared to the same period in 2022.

The number of new Mustang Mach-E registrations for the full-year 2022 rose 50% to 38,469 compared to 2021. But in the first five months of 2023, they fell 29% to 10,948.

Ford’s F-150 Lightning pickup, launched in 2022, continues to grow sales and remains the best-selling electric pickup in the U.S., according to Experian data. The number of F-150 Lightning registrations increased to 8,800 during the January-to-May period, dramatically up from 361 during the same period last year, when Ford was still ramping up production.


Kia also experienced a decline in its fortunes in the initial five months of this year. New registrations of its EV6 compact crossover dropped 29% to 6,780, and its smaller crossover, Niro, saw registrations fall 27% to 4,425, Experian said.

For full-year 2022, Kia posted a 236% jump in EV registrations to 23,506. Its EV share fell to 2.5% this year from 5.8% last year, based on five-month Experian data.


According to Experian data, Hyundai's EV performance outmaneuvered that of Kia during the first five months of the year. The Ioniq 5 compact crossover fell 3.4% to 10,406, the smaller Kona EV crossover grew 190% to 3,943, and the Ioniq 6 midsize sedan, new this year, had 1,824 in sales.

Over the period of five months, there was 33% growth in Hyundai-brand EV registrations, totaling 16,175. For full-year 2022, sales grew 142% to 26,826. Still, Hyundai’s EV share fell to 3.6% in the first five months of 2023 compared with 4.6% for the same period in 2022.


There was a 48% decline in registrations of the Leaf hatchback during the January-to-May period, with only 3,760 registrations recorded. The Ariya compact crossover, a new addition to Nissan's product lineup, amassed 3,501 new registrations this year. But Nissan’s total EV registrations were nearly flat, and its EV share fell to 1.6% in the five-month period compared with 2.7% a year earlier.

Lucid Motors

Lucid's new registrations rose 234% to 2,758 in the first five months of the year, but the brand is still running behind its 2023 forecast of 10,000 to 14,000 units of its Air sedan. Lucid also has reported flat second-quarter sales compared to the first quarter.

Rivian Automotive

According to Experian data, Rivian experienced a nearly sixfold increase in registrations of its consumer vehicles, comprising the R1T pickup and R1S crossover, during the initial five months of the year. The R1T and R1S had 6,013 and 5,897 registrations, respectively.


Registrations for the Cadillac Lyriq midsize crossover increased significantly to 1,893 in the current year compared to 40 in the preceding year's five-month period. However, despite being viewed as a credible rival to the Tesla Model Y, production plans have fallen behind. According to Experian, Cadillac ranked 19th in EV registrations among 25 brands.


Porsche’s Taycan sedan saw registrations fall 26% in the five-month period to 2,679.

Originally posted on Auto Dealer Today

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