EV Registrations Spike in Q1
May 18, 2022—Though it's still a long way off from taking full effect, the EV adoption wave gained significant momentum to start off 2022.
According to a report from Yahoo! Finance citing data from Experian Automotive, registrations for new electric vehicles was up 60 percent in Q1 2022 from the same time period last year. New EVs also accounted for 4.6 percent of total new vehicles in Q1, even as overall registrations were down 18 percent.
Tesla continues to dominate the EV market, with all four of its models in the top ten for registrations. The Model Y, Model 3 and Model S occupied the top three spots and combined for just under 109,000 registrations, helping Tesla secure a 70 percent share of the total market.
Other automakers are also starting to see more success with their EVs as well. Kia's EV6 and Niro EV, the Hyundai Ioniq 5 and Ford Mustang Mach-E all had at least 1,000 units registered in the quarter.