These were the best-selling EVs in the US in 2023 – Rivian R1S cracks the top 10
Tesla’s Model Y was the best-selling electric vehicle in the US in 2023 by far, but other EVs from VW, Hyundai, Rivian, Chevy, and Ford are climbing the sales charts.
Another year of EV records
A record 1.2 million EVs were handed over to customers in the US last year, beating most expectations.
Electric vehicles accounted for 7.6% of total US sales in 2023. That’s up from 5.9% in 2022 and 3.2% in 2021. Next year, that number is expected to reach around 10% for the first time, according to Cox Automotive research.
Despite claims of a market slowdown, a record 317,168 EVs were sold in the last three months of 2023. That’s 8.1% of total US auto sales and 52% higher than Q4 2022.
Tesla continued leading the way last year with over 484,500 EVs delivered in Q4 to hit its goal of handing over 1.8 million vehicles in 2023.
The effort was enough to maintain control of over half of the US EV market. Tesla’s EVs accounted for 55% of electric vehicle sales in the US last year. The brand’s two most affordable models remained the best-selling EVs in 2023.
Top ten best-selling EVs in 2023
With over 394,000 units sold, Tesla’s Model Y represented one in every three EVs sold last year. The Model 3 placed second with 220,910 units sold.
| Rank | Top 10 best-selling EVs of 2023 | 2023 sales | 2022 rank (+/-) |
| 1 | Tesla Model Y | 394,497 | 1 (-) |
| 2 | Tesla Model 3 | 220,910 | 2 (-) |
| 3 | Chevy Bolt EV/EUV | 62,045 | 5 (+2) |
| 4 | Ford Mustang Mach-E | 40,771 | 3 (-1) |
| 5 | Volkswagen ID.4 | 37,789 | 9 (+4) |
| 6 | Hyundai IONIQ 5 | 33,918 | 7 (+1) |
| 7 | Rivian R1S | 24,783 | N/A |
| 8 | Ford F-150 Lightning | 24,165 | 10 (+2) |
| 9 | Tesla Model X | 23,015 | 6 (-3) |
| 10 | BMW i4 | 22,583 | N/A |
Meanwhile, the Chevy Bolt EV had its best sales year yet with 62,045 electric models sold. Despite this, GM has already stopped producing the affordable electric car as it scales production of its Ultium models like the Blazer EV and Cadillac Lyriq. A new Bolt EV will be unveiled next year.
Ford’s Mustang Mach-E also had its best sales year with 40,771 electric crossovers sold while the F-150 Lightning was the best-selling electric pickup. Other electric SUVs including the VW ID.4 (37,789) and Hyundai IONIQ 5 (33,918) gained ground amid record years.
EV startup Rivian cracked the top ten after selling 24,783 R1S electric SUVs in 2023. Rivian delivered over 50,000 EVs last year total, more than double the 24,337 handed over in 2022.
Electrek’s Take
The best-selling EVs of 2023 looks a lot like last year’s list. The biggest changes include Tesla’s Model S slipping off this list from fourth in 2022.
The Chevy Bolt EV rose two spots while the Mach-E fell from third to fourth. Rivian’s R1S is new to the list as the EV maker ramps production at its Normal, IL factory.
I expect to see more changes in 2024 with new model launches like the Volvo EX30, starting at $35,000.
While some automakers including GM and Ford are pulling back on EV intiatives, others are doubling down like Hyundai and Volvo. The results will likely begin to show this year.
What changes do you guys expect to see on this year’s list? Let us know in the comments.
Source: Kelley Blue Book
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British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.
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British oil giant BP on Tuesday posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices.
The beleaguered oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $1.38 billion for the first three months of the year. That missed analyst expectations of $1.6 billion, according to an LSEG-compiled consensus.
BP’s net profit had hit $2.7 billion a year earlier and $1.2 billion in the final three months of 2024.
The results come as the energy major faces fresh pressure from activist investors less than two months after announcing a strategic reset.
Seeking to rebuild investor confidence, BP in February pledged to slash renewable spending and boost annual expenditure on its core business of oil and gas.
BP CEO Murray Auchincloss told CNBC’s “Squawk Box Europe” on Tuesday that the firm was “off to a great start” in delivering on its strategic reset.
“We had a great operational quarter. We had our highest upstream operating efficiency in history. Our refineries in the first quarter ran at the best they’ve run in 24 years. We had six exploration discoveries in a row, which is really unusual and we started out three major projects,” Auchincloss said.
For the first quarter, BP announced a dividend per ordinary share of 8 cents and a share buyback of $750 million.
Net debt rose to $26.97 billion in the January-March period, up from $22.99 billion at the end of the fourth quarter. BP had previously warned of lower reported upstream production and higher net debt in the first quarter, when compared to the final three months of last year.
Shares of BP fell 3.3% on Tuesday morning. The firm is down roughly 8% year-to-date.
Activist pressure
BP’s green strategy U-turn does not appear to have gone far enough for the likes of activist investor Elliott Management, which went public last week with a stake of more than 5% in the London-listed firm.
The disclosure makes the U.S. hedge fund BP’s second-largest shareholder after BlackRock, the world’s largest asset manager, according to LSEG data.
Elliott was first reported to have assumed a position in the oil and gas company back in February, driving a share price rally amid expectations that its involvement could pressure BP to shift gears back toward its oil and gas businesses.
BP’s Auchincloss declined to comment on interactions with investors when asked whether the firm was under pressure from the likes of Elliott to go beyond the plans announced in its February pivot.
Notably, BP suffered a shareholder rebellion at its annual general meeting earlier this month. Almost a quarter (24.3%) of investors voted against the re-election of outgoing Chair Helge Lund, a symbolic result that reflected a sense of deep frustration among the firm’s shareholders.
Mark van Baal, founder of Dutch activist investor Follow This, told CNBC last week that he hoped the shareholder revolt means Amanda Blanc, who is leading the process to find Lund’s successor, will look for a new chair who is “climate competent” and “will not respond to short-term activists so quickly.”
Lund is expected to step down from his role next year.
Takeover candidate
BP’s underperformance relative to industry peers such as Exxon Mobil, Chevron and Shell has thrust the energy major into the spotlight as a prime takeover candidate. Energy analysts have questioned, however, whether any of the likeliest suitors will rise to the occasion.
BP’s Auchincloss on Tuesday said that he wouldn’t speculate on whether the company is a takeover target, but confirmed the oil major had not asked for any sort of protection from the British government.
“What I will say is we’re a strong, independent company and we’ve got sector-leading growth. And if we can deliver the sector-leading growth, and the first quarter is a fantastic example of that, then I have no concerns. I think we’re going to do great,” Auchincloss said.
Murray Auchincloss, chief executive officer of BP, during the “CERAWeek by S&P Global” conference in Houston, Texas, on March 11, 2025.
Bloomberg | Bloomberg | Getty Images
Oil prices have fallen in recent months on demand fears. International benchmark Brent crude futures with June delivery traded at $65.19 per barrel on Tuesday morning, down more than 1% for the session. That’s lower from around $84 per barrel a year ago.
Asked whether weaker crude prices could put the some of the firm’s reset plans in jeopardy, Auchincloss said, “Not really. We have a balance of products that we think about that generate revenue for us. So, oil, natural gas and refined products as well.”
— CNBC’s Ruxandra Iordache contributed to this report.
Germany’s largest offshore wind farm under construction, EnBW’s He Dreiht, just hit a big milestone: The first enormous turbine is now up in the North Sea.
He Dreiht – which means “it spins” in Low German – is using Vestas’s massive 15 megawatt (MW) turbines, the first project in the world to install them. Just one spin of one of the rotors can generate enough electricity to power four households for an entire day.
When it’s finished, He Dreiht will have 64 mega turbines cranking out 960 megawatts (MW) of clean power – enough to supply around 1.1 million homes. And it’s being built without any government subsidies.
EnBW, one of Germany’s major energy companies, has been working in offshore wind for more than 15 years, but He Dreiht is their biggest project yet. “It will play a key role in helping us to significantly grow our renewable energy output from 6.6 GW to over 10 GW by 2030,” said Michael Class, who heads up EnBW’s generation portfolio development.
The project is a win for Vestas, too. “With the installation of the first V236-15.0 MW, we have reached an important milestone for both the He Dreiht project and our offshore ramp-up, which helps Germany build a more secure, affordable, and sustainable energy system,” said Nils de Baar, president of Vestas Northern & Central Europe.
He Dreiht is located about 85 kilometers (53 miles) northwest of Borkum and 110 kilometers (68 miles) west of Helgoland. At peak times, more than 500 workers will be out at sea building the farm, using a fleet of more than 60 ships. EnBW’s offshore team in Hamburg is running the show.
The installation process is a major operation. The 64 foundations were already set in the seabed last year. Parts for the turbines are loaded onto the installation vessel Wind Orca in Esbjerg, Denmark, and shipped out in a 12-hour journey to the construction site. From there, the turbines are lifted into place. Meanwhile, crews are also working on internal wind farm cabling.
A partner consortium made up of Allianz Capital Partners, AIP, and Norges Bank Investment Management owns 49.9% of the shares in He Dreiht.
Read more: Trump admin halts $5 billion NY offshore wind project mid-build
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Tesla has released a quick update about its Tesla Semi factory in Nevada. It says that it is on track for volume production of the electric semi truck in 2026.
The Tesla Semi was first scheduled to go into production in 2019, but it has faced numerous delays.
Now, it appears that there is finally some momentum to bring it to volume production.
For the last two years, Tesla has been working to build a new factory next to Gigafactory Nevada, where it builds the battery packs and drive units for most of its electric vehicles built in North America.
Today, Tesla released a “progress update on the factory, confirming that it finished building and it’s now working on deploying the production lines:
Tesla had previously mentioned aiming for volume production by 2025, but it is now only talking about starting production toward the end of the year and ramping up next year.
The automaker reiterated its planned production capacity of 50,000 units.
We recently reported that an early Tesla Semi customer, Ryder, stated that the electric truck program is experiencing more delays and a price increase described as “dramatic.”
They now expect to take deliveries of their first trucks later in 2026 and said that the price has increased “dramatically,” leading them to scale back their pilot program from 42 to 18 Tesla Semi trucks.
When originally unveiling the Tesla Semi in 2017, the automaker mentioned prices of $150,000 for a 300-mile range truck and $180,000 for the 500-mile version. Tesla also took orders for a “Founder’s Series Semi” at $200,000.
However, Tesla didn’t update the prices when launching the “production version” of the truck in late 2022. Price increases have been speculated, but the company has never confirmed them.
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