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
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
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
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
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
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
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’svehicle of the year in 2022.
#4 Tesla Model S
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
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
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
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.
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On today’s episode of Quick Charge, Tesla’s Cybertruck is now available in Canada – and, like in the US, there’s no waiting! Plus, we’ve got an “actually” smart summon Tesla that’s actually stuck, GM reaches a sales milestone, and we get a brand-new title sponsor!
Today’s episode is the first with our new title sponsor, BLUETTI – a leading provider of portable power stations, solar generators, and energy storage systems.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonusLucid proves than an EV company can keep its promises while Xiaomi teams up with Chevrolet and Honda to prove – at least conceptually – that records are made to be broken. audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!
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Mobile car care company Yoshi Mobility launched a DC fast charging EV mobile unit that it likens to “a supercharger on wheels.”
November 4, 2024 update: Yoshi Mobility will only be charging EVs on the side of the road now – it announced today that it’s selling its fleet fueling operation to EZFill Holdings (Nasdaq: EZFL).
It was originally founded as a direct-to-consumer, mobile fueling business in 2016, but now it’s going to focus on mobile EV charging, virtual vehicle inspections for partners like Uber and Turo, and onsite preventative maintenance.
Bryan Frist, Yoshi Mobility’s CEO & cofounder, said, “By spinning off our fuel business and focusing all of our energy on solving hair-on-fire problems that fleet owners face, we are meeting the changing needs of enterprise customers while making the future of transportation safer, cleaner, and more sustainable.”
May 22, 2024: Yoshi Mobility saw that its existing customers needed mobile EV charging in places where infrastructure has yet to be installed, so the Nashville-based company decided to bring the mountain to Moses.
“We recognized a demand among our customers for convenient daily charging, reliable private charging networks, and proper charging infrastructure to support their fleet vehicles as they transition to electric,” said Dan Hunter, Yoshi Mobility’s chief EV officer and cofounder.
The company says its 240 kW mobile DC fast charger, which can turn “any EV” into a mobile charging unit, is the first fully electric mobile charger available. It can provide multiple charges in a single trip but doesn’t detail how they charge the DC fast charger or who manufactured it. (I asked for more details, and they replied that they won’t disclose client names or the manufacturer of its DC fast charger yet.)
Yoshi is launching its mobile charger on two GM BrightDrop Zevo 600s and will introduce additional vehicles throughout 2024. It aims for full commercialization by Q1 2025. (I wonder if the Zevo 600 ever charges itself? Yes, I asked that too.)
Yoshi Mobility says it’s already deployed its EV charging solutions to service “major OEMs, autonomous vehicle companies, and rideshare operators” across the US. Its initial customers are made up of large EV operators managing “hundreds” of light-duty vehicles requiring up to 1 megawatt of energy per day that don’t yet have grid-connected EV chargers. I’ve asked Yoshi for details of who it’s working with, and will update if they share that info.
The company says pricing is based on location and enterprise charging needs. Once under contract for service, the service will be deployed to US-based customers within 10 days.
To date, Yoshi Mobility has raised more than $60 million, with investments from GM Ventures, Bridgestone, ExxonMobil, and Y-Combinator in Silicon Valley.
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Marqeta celebrates its initial public offering at the Nasdaq on June 9, 2021.
Source: The Nasdaq
Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter.
Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:
Loss per share: 6 cents adjusted vs. a loss of 5 cents expected
Revenue: $128 million vs. $128.1 million expected
While third-quarter results showed a slight disappointment on the top and bottom lines, Marqeta’s forecast for the current period was more concerning.
The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Analysts were looking for growth of more than 17%, according to LSEG.
Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to “heightened scrutiny of the banking environment and specific customer program changes.” The company has been struggling for a while, and its stock is now down more than 80% from its peak in 2021, the year it went public. The stock was down 15% for the year prior to the report.
Total processing volume of $74 billion was up more than 30% from a year earlier. Net revenue and gross profit were up 18% and 24%, respectively.
Marqeta’s digital commerce business sells payment technology designed to detect potential fraud and ensure that money is properly routed. It also issues customized physical cards that look like a credit or debit card that can be used for point-of-sale purchases.
The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex. The service brings BNPL from lenders such as Affirm or Klarna to any credit card wherever Mastercard and Visa are accepted.
“It’s an orchestration layer, but it’s tied to issuing and processing and disputes and chargebacks,” CEO Simon Khalaf told CNBC at Money2020 in Las Vegas last week. “So it is not actually a Wild West in BNPL. It is actually very well established. And there is a reason why a lot of people are jumping to it.”