Tesla Inc, the pioneer in the electric vehicle (EV) market, clinched the title for the most new battery electric vehicle (BEV) registrations in California for the year 2023. The Tesla Model Y SUV, with its 230,588 new registrations, emerged as the best-selling vehicle in the state. However, the spotlight also shines on California-based EV startup Rivian Automotive Inc, which experienced the most substantial surge in new registrations.
Tesla’s Model Y Triumph: According to a report by the California New Car Dealers Association, Tesla’s new registrations reached 230,588 in 2023, showcasing a notable 24.6% increase from the 185,090 registered in 2022. The Model Y, in particular, stole the show with 132,636 new registrations, outpacing competitors like the Toyota RAV4 and Honda CR-V combined. Despite its higher price tag starting at $43,990, the Model Y’s popularity underscores a willingness among consumers to invest in Tesla’s cutting-edge EV technology.
Tesla CEO Elon Musk acknowledged this achievement during the company’s fourth-quarter earnings call, highlighting the remarkable success of the Model Y in unit volume despite its premium pricing.
Rivian’s Meteoric Rise: While Tesla secured its dominance, the most noteworthy surge in registrations came from Rivian. The California-based EV startup witnessed a remarkable jump, with 10,297 new Rivian vehicles registered in 2023, marking an impressive 142.7% increase. The Rivian R1S, in particular, secured a spot among the top 10 best-selling BEVs in the state with 6,665 new registrations.
California’s EV Momentum: California continues to embrace the electric revolution, with BEV market share rising to 21.4% in 2023, up from 16.4% the previous year. This shift has had a corresponding impact on the market share of internal combustion engines, which dropped to 63.9%. The data suggests a growing preference for cleaner and more sustainable transportation options.
As Tesla maintains its stronghold in the EV market, Rivian’s surge signals a dynamic shift in the competitive landscape, reflecting a growing appetite for electric mobility among consumers in California.
