Connect with us

Published

on

Electric vehicles took the US auto market by storm in 2022 and for good reason. Demand for zero-emission EVs has never been higher. Check out the top ten best-selling electric vehicles of 2022, and learn why they earned a spot on the list.

What are the best-selling electric vehicles of 2022?

While the broader US auto market slumped this past year, electric vehicles were a bright spot. Automakers more than doubled their investments to catch EV pioneer Tesla and solidify their futures.

Fully electric vehicle sales reached over 800,000 in the United States, nearly doubling from 2021 to reach almost 6% overall market share, according to the latest figures from Motor Intelligence.

A significant reason for the uptick in demand is due to additional EV models available on the market. On top of this, new government incentives provided by the Inflation Reduction Act, passed in August, provide buyers with up to $7,500 for new EVs and up to $4,000 for used ones.

Tesla remains on top by a far margin, accounting for 65% of total EV sales in the United States in 2022. However, other automakers that were fast to react to the rapidly evolving market, like Ford, Hyundai, and GM, are beginning to claim their shares.

Ford sold 61,575 electric vehicles in 2022, claiming the second-largest US EV marker. Hyundai and Kia both set sales records last year due to strong demand for their electric models as the brands gear up for an even bigger 2023.

Meanwhile, GM says it had the “#1 mainstream EV in Q3 and Q4” (we assume not counting Tesla) in their most recent sales update. So, what are the best-selling electric vehicles driving the success? Here’s a list of the top ten EVs sold in the United States and why they earned a spot on the list.

#10 Ford F-150 Lightning

Best-selling-electric-vehicles-Ford-Lightning
Ford F-150 Lightning Source: Ford

Ford raced its way to becoming the US’s second best-selling EV maker last year by converting its legendary brands into fully electric powerhouses.

It started with the Mustang Mach-E (which also made the list) as Ford later converted its best-selling F-series to meet the demands of the new EV era.

The F-150 Lightning was revealed to the world in May 2021 and, by the end of the year, already had over 200,000 reservations or three years of backlog. After ramping production, the Ford F-150 Lightning became the number one electric truck in the United States in December and best selling since its release in May.

The electric pickup offers ample storage with a 14.1 cubic ft Mega-Power Frunk and advanced capabilities like onboard power that can be used to power home essentials, a campsite, or workstation, etc.

Ford’s electric truck is capable enough for those looking to switch from its gas-powered peers while gaining a massive tech upgrade.

#9 Volkswagen ID.4

Best-selling-electric-vehicles
Volkswagen ID.4 Source: VW

Volkswagen sold 20,511 ID.4’s in the United States last year as demand for VW’s first all-electric SUV continued building.

The VW ID.4, based on the MEB platform, began production in 2020 and has since risen to become one of the top-selling EVs as a practical everyday SUV with plenty of range (up to 275 miles EPA estimated range) for your daily travels. With a starting price of less than $40,000, the ID.4 gives you that luxury feel without paying the premium.

On top of this, the EV includes VW’s advanced driver assistance tech called IQ.DRIVE, featuring travel assist, adaptive cruise control, active blind spot monitor, front assist, and more.

Volkswagen’s ID.4 makes a great first EV for those looking for a roomy, safe vehicle for a decent starting price.

#8 Kia EV6

best-selling-electric-vehicles
Kia EV6 Source: Kia

Kia hit the ground running in one of the most impressive brand transformations the auto industry has seen for some time. The automaker’s first dedicated electric vehicle, the Kia EV6, has a sharp style and is fun to drive with surprising performance.

Sitting on The Hyundai Motor Company’s E-GMP platform, the EV6 was revealed by Kia in May 2021. It’s an all-electric sport crossover fit for the modern era.

The Kia EV6 comes with up to 310 miles range, 18 min fast charging (10% to 80%), vehicle-to-load capabilities, and much more. For those who like a little more thrill out of their ride, the Kia EV6 GT comes loaded with 576 hp, enough to beat a Ferrari and Lamborghini in a race.

#7 Hyundai IONIQ 5

best-selling-electric-vehicles
Hyundai IONIQ 5 Source: Hyundai

Hyundai, who owns a controlling interest in Kia, has also successfully broken into the EV market, introducing its “game-changing” IONIQ 5 SUV.

Introduced in February 2021, the bold, futuristic-looking IONIQ 5 has already won several awards, capturing the hearts of many drivers making the switch to fully electric. The IONIQ 5 also sits on the E-GMP platform as Hyundai reimagined every detail for its first dedicated EV.

Hyundai’s IONIQ 5 is another practical SUV, like the ID.4 and EV6, with up to 303 miles EPA range for a decent starting price.

#6 Tesla Model X

Best-selling-electric-vehicles-1
Tesla Model X Source: Tesla

Tesla still has a massive lead in terms of production capabilities, and its first SUV, the Model X, continues seeing strong demand despite smaller, more affordable Tesla models being launched.

The Model X is the largest EV in Tesla’s lineup (excluding Cybertruck and Semi) and sports long-range capabilities (348 mile EPA range), AWD dual motor, a sizeable 7-seat interior, 88 cu ft cargo space, and 5,000 lbs towing capacity.

With over 1,020 hp peak power, the Model X Plaid is the quickest accelerating of any SUV (0 to 60 mph in 2.5 seconds) and still offers 333 EPA estimated range.

For a while, the Model X was the go-to electric family car, but with more cost-effective options hitting the market, many wondered if sales would slow. For now, the Model X continues its reign.

#5 Chevy Bolt EV/EUV

best-selling-electric-vehicles-chevy-bolt
Chevy Bolt EUV Source: Chevrolet

The Chevy Bolt EV and EUV models had a massive year in 2022 despite resuming production in April due to a recall in 2021.

GM said the Chevy Bolt was the “number 1 mainstream EV in the Q3 and Q4,” ending the year on a high note. With a starting price of just over $25,000, the Bolt EV is the cheapest electric vehicle in the US, but that doesn’t mean it’s any less functional.

The Chevy Bolt EV is quick, fun to drive, and still offers a decent range (259-mile EPA range) which is why it won Electrek’s vehicle of the year in 2022.

#4 Tesla Model S

Best-selling-electric-vehicles-2
Tesla Model S Source: Tesla

The Tesla Model S speaks for itself. It’s super sleek, offers ultra-long-range capabilities (405 miles EPA est), and features unparalleled performance.

The all-electric luxury Model S sedan was a primary driver behind the mainstream EV movement with quick acceleration (0 to 60 in 3.1 seconds), extended range, and confident handling.

It also features ample storage and a modern interior, making it a practical drive and still one of the best luxury EVs on the market, with a starting price of $104,990.

#3 Ford Mustang Mach-E

Best-selling-electric-vehicles-3
Ford Mustang Mach-E Source: Ford

Ford is another legacy automaker that embraced the electric vehicle movement, carrying its iconic Mustang brand into the new EV era.

The Mustang Mach-E was introduced in 2019 and has steadily gained momentum since. The five-seat SUV starts at $46,895, offering a smooth, quiet ride with ample range.

Ford’s Mach-E features a spacious interior, over-the-air software updates, and advanced safety features. Furthermore, with several different trims offering a mix of range and performance capabilities, you are sure to find the right model for you.

#2 Tesla Model 3

Best-selling-electric-vehicles-4
Tesla Model 3 Source: Tesla

Tesla introduced the Model 3 to reduce the entry price to own an electric vehicle without sacrificing range or performance.

Customers began receiving their Model 3s in 2018, and the model quickly became the best-selling electric vehicle at the time. The Tesla Model 3 offers the same Tesla spirit, with plenty of power and superior handling.

The four-door EV is built for safety, achieving a five-star NHTSA rating in every category, quick acceleration (0 to 60 mph in 3.1 seconds), long-range capabilities (358-mile EPA range), and a starting price of $46,990.

#1 Tesla Model Y

Best-selling-electric-vehicles-5
Tesla Model Y Source: Tesla

The Model 3 was the best-selling electric vehicle, of course, until the Model Y hit the market.

The Tesla Model Y began rolling out in 2020 and has exploded in popularity ever since. After edging out gas-powered vehicles in Europe for the best-selling car title, the Model Y looks to do the same in the United States, already placing among the top ten overall vehicle sales. In fact, the Tesla Model Y is on its way to becoming the top-selling car globally, and for good reason.

Tesla’s Model Y comes with an AWD dual motor, 76 cu ft storage, and 330-mile range, all for a starting price of $65,990.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

China cracks down on automated driving features after Tesla’s FSD launch

Published

on

By

China cracks down on automated driving features after Tesla's FSD launch

Just after Tesla launched its ‘Full Self-Driving’ package, in China, the country announced that it cracking down on automated driving features with new limitations.

In February, Tesla launched a first version of its “Full Self-Driving” FSD package in China for owners with the latest “Hardware 4.0”, or “HW4”, vehicles.

Most of the features under Tesla’s FSD package have been limited to North America due to Tesla training its system for this market first and due to regulatory limitations in other markets.

Shortly after Tesla launched FSD in China, the American automaker had to pause its rollout due to updated requirements from China’s Ministry of Industry and Information Technology (MIIT).

Advertisement – scroll for more content

Now, MIIT has confirmed that it held a meeting with automotive industry stakeholders yesterday, and it has further clarified the rollout of advanced driver assistance (ADAS) features.

CNEV reported on the meeting:

Car companies were asked to refrain from using words like “self-driving,” “autonomous driving,” “smart driving,” “advanced smart driving,” and instead use the term “combined assisted driving” to avoid misleading consumers, according to the minutes of the meeting.

Tesla had already changed the name from ‘Full Self-Driving’ to “Intelligent Assisted Driving” following the launch in China.

Based on a statement from MIIT, the meeting focused on enforcing the previously announced updated requirements that launched right after Tesla introduced FSD in China (translated from Chinese):

The meeting emphasized that automobile manufacturers must deeply understand the requirements of the “Notice”, fully carry out combined driving assistance testing and verification, clarify the system functional boundaries and safety response measures, and must not make exaggerations or false propaganda. They must strictly fulfill their obligation to inform, and truly assume the main responsibility for production consistency and quality safety, and truly improve the safety level of intelligent connected vehicle products.

Regulators want automakers to reduce the frequency of new software updates and instead focus on extended testing before releasing new updates.

The last few months have been quite chaotic for ADAS systems in China. Along with Tesla’s FSD release, several Chinese companies released their systems, including BYD, Xiaomi, and Huawei.

Xiaomi reported a fatal accident in which its ADAS system was active just seconds before the crash, and Tesla owners using FSD racked up thousands of dollars in fines due to FSD making mistakes.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Global Payments shares plunge 17% after company announces $24 billion Worldpay deal

Published

on

By

Global Payments shares plunge 17% after company announces  billion Worldpay deal

The Global Payments Company logo seen displayed on a smartphone.

Igor Golovniov | LightRocket | Getty Images

Global Payments shares tumbled 17% on Thursday after the company said it’s buying Worldpay for more than $24 billion while simultaneously selling its Issuer Solutions business to Fidelity National Information Services.

The company said that in acquiring Worldpay, which FIS had purchased in 2019 before later selling a majority stake, it’s expanding its reach and will be able to serve over 6 million customers across more than 175 countries, enabling $3.7 trillion in annual payment volume.

In selling its Issuer Solutions unit to FIS for $13.5 billion, Global Payments is divesting a unit for back-end financial processing that’s long been viewed as a stable provider of growth. In the end, Global Payments is going bigger in providing payments services to merchants, while FIS is focusing on issuer processing.

FIS bought Worldpay for about $35 billion in 2019 and sold most of its stake last year to GTCR.

Global Payments said on Thursday that it obtained committed bridge financing and plans to issue $7.7 billion of debt “to replace the bridge commitment and refinance Worldpay’s outstanding debt.”

Read more about tech and crypto from CNBC Pro

Global Payments CEO Cameron Bready called it a “defining day,” and said the transaction gives the company “significantly expanded capabilities, extensive scale, greater market access and an enhanced financial profile.”

But Wall Street was less enthusiastic. While the acquisition gives Global Payments a larger footprint in payment processing, analysts at Mizuho described it as a strategic step backward.

Mizuho reiterated its neutral rating on the stock, warning that “the business could be seeing more meaningful margin pressure than investors acknowledge.” The analysts wrote that FIS won the trade, getting the “crown jewel” with Global Payments getting “more of the same.”

FIS shares rose more than 8% on Thursday.

Both deals are expected to close in the first half of 2026, pending regulatory approval.

WATCH: Global Payments to buy Worldpay

Faber Report: Global Payments to buy Worldpay for $22.7B

Continue Reading

Environment

Tesla Cybertruck is in crisis: new discounts and throttling down production

Published

on

By

Tesla Cybertruck is in crisis: new discounts and throttling down production

The Tesla Cybertruck is in crisis. The automaker is still sitting on a ton of old inventory, which it is now heavily discounting, and it is throttling down production to try to avoid building up the inventory again.

When launching the production version of the Cybertruck in late 2023, Tesla CEO Elon Musk claimed that the vehicle program would reach 250,000 units a year in 2025:

“I think we’ll end up with roughly a quarter million Cybertrucks a year, but I don’t think we’re going to reach that output rate next year. I think we’ll probably reach it sometime in 2025.”

We are now in 2025, and Tesla is expected to currently be selling the Cybertruck at a rate of about 25,000 units a year – a tenth of what Musk predicted.

Earlier this month, we reported that Tesla began the second quarter with 2,400 Cybertrucks in inventory, valued at over $200 million.

Advertisement – scroll for more content

This is a real problem for Tesla as many of those Cybertrucks are older 2024 model year units not eligible for the federal tax credit, and even some ‘Foundation Series’, which Tesla stopped building in October 2024 – meaning that Tesla is sitting on some 6-month-old trucks in some cases.

Tesla is now offering deeper discounts on the new inventory of Cybertrucks. The discounts can go as high as $10,000, but the average one is closer to $8,000, which is more than the tax credit:

Despite Tesla’s efforts, the automaker has only reduced its Cybertruck inventory by about 100 units since the beginning of the month.

Tesla is now further throttling down production of the Cybertruck at Gigafactory Texas, according to a new report from Business Insider.

According to two Tesla workers speaking with BI, the automaker has reduced its Cybertruck production teams and now operates at a fraction of its original capacity. It also moved some Cybertruck production workers to Model Y production at the plant.

One of the workers said:

“It feels a lot like they’re filtering people out. The parking lot keeps getting emptier.”

As we previously reported, Tesla has been operating all its factories at approximately 60% capacity to avoid building up excessive inventory amid lower demand.

When it comes to the Cybertruck program, it sounds like Tesla is lowering production even further.

Last week, Tesla launched a new version of the Cybertruck in an attempt to boost demand, but it has been poorly received due to the automaker’s removal of many essential features.

Electrek’s Take

There are a lot of other automakers that would have already given up on the Cybertruck ith these results, but not Tesla. Musk is not one to admit defeat easily.

However, Tesla is running out of options.

The new Cybertruck RWD was a desperate attempt, and I doubt it will work. Now, it sounds like Tesla is further throttling down production – virtually confirming that the new trim didn’t help.

The next step would be a complete production pause.

Again, I don’t think Musk wants to admit defeat, but at some point, it’s inevitable.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending