Americans bought a record number of EVs last year. These were the 10 most popular electric models.

Wed, 01/17/2024 - 14:13

electric cars charging — Electric cars charge in a parking garage at the University of California, Irvine, in 2015.
Lucy Nicholson/Reuters

The Tesla Model Y and Model 3 were the two most popular electric-vehicle models in 2023.
The most popular EVs last year were also some of the most inexpensive.
EV sales surpassed 1 million units for the first time in 2023.

For the first time ever, electric-vehicle sales in the US surpassed 1 million units in 2023.

Last year marked a turning point for the EV market, with a new crop of shoppers considering these vehicles due to lower prices and better government incentives. That pushed EV sales up to nearly 1.2 million last year, according to Kelley Blue Book.

Despite losing some ground in 2023, Tesla continues to dominate the EV market. Elon Musk's electric-car company ran away with the top two spots, with Model Y sales of 394,497 and Model 3 sales of 220,910, according to KBB. In a distant third place is GM's Chevrolet Bolt, which racked up 60,045 sales of the EV and EUV.

The most popular EVs of 2023 are also some of the most inexpensive, reflecting a change that dealers and industry executives have been noting in electric-car shoppers.

The average price for a new EV in December 2023 was still high, at $50,789, according to KBB. But that's down from the average transaction price in December 2022 by about $14,000.

Here are the top 10 electric vehicles by sales in the US in 2023:

1. Tesla Model Y

A black Tesla Model Y electric SUV in an outdoor parking space — The Tesla Model Y.
Tim Levin/Insider

Units sold: 394,497

Tesla's most popular model accounted for roughly a third of all EV sales in the US last year.

A cheaper base model rolled out last year helped the Model Y gain even more popularity. The car is up for a refresh later this year.

2. Tesla Model 3

A pearl white Model 3 Tesla parked in a driveway — The 2021 Tesla Model 3.
Ryan Thomas

Units sold: 220,910

Tesla's first mass-market vehicle and the car sold to Hertz for rentals continued to dominate the EV market in 2023.

The Model 3 has become one of the most affordable EVs on the road after a series of price cuts last year. You can get a great deal on a new or used Model 3.

3. Chevrolet Bolt

Units sold: 62,044

The longest-selling electric car in GM's lineup notched a distant third place in US EV sales last year, with sales of 60,045 EV and EUV body styles.

GM walked back plans to phase out the Bolt for 2024, with Mary Barra, the CEO of GM, saying the nameplate will carry over onto the new Ultium battery platform.

4. Ford Mustang Mach-E

Units sold: 40,771

The Mustang Mach-E cracked the top five for EV sales in 2023 despite the car's issues on dealer lots starting in the summer. By July of last year, dealers said they were turning away Mach-E allocations due to a drop in demand.

5. Volkswagen ID.4

Units sold: 37,789

Volkswagen dealers had a lot more ID.4s in their inventory last year, making this EV one of the easier models to find. The starting price of an ID.4 is around $39,000, well below the segment average of $50,789.

6. Hyundai Ioniq 5

Units sold: 33,918

The Hyundai Ioniq 5 replaced Kia's EV6 on the top 10 list for 2023. This was one of Business Insider's favorite cars last year, with an "edgy, futuristic" look and a relatively quick charge time.

7. Rivian R1S

Units sold: 24,783

Rivian's R1S helped the EV startup climb the top-seller list in 2023 with sales of around 24,780. The R1T, Rivian's first model, barely cracked the top 10 in 2022, with about 20,300 units sold.

8. Ford F-150 Lightning

A blue Ford F-150 Lightning on a multi-lane street. — The Ford F-150 Lightning.
John Tlumacki/Getty Images

Units sold: 24,165

Ford pushed out more electric F-150 Lightnings in 2023, even as the company pulled back on production and executives warned it would not meet its earlier EV-production goals.

While the Lighting had a lot of demand in its early days of production, dealers have told BI that the electric trucks are getting harder to move.

9. Tesla Model X

Units sold: 23,015

The more expensive Tesla SUV is farther down on the top 10 list in a year when EV shoppers became more price-conscious. This car can cost over $100,000, a price point not many EV shoppers are considering anymore.

10. BMW i4

Units sold: 22,583

In a departure from BMW's quirkier i3, launched in 2013 and discontinued in 2022, the i4 looks more like its internal-combustion-engine siblings at first glance. BI called it a more luxurious alternative to the Tesla Model 3.

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Transportation, electric-vehicles, tesla, Chevrolet, Ford, Volkswagen, Hyundai, BMW, Rivian

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Americans bought a record number of EVs last year. These were the 10 most popul…