Top Best Selling Electric Cars, Trucks, and SUVs: US Market Analysis for Q3 2023

The electric vehicle (EV) market saw a notable shift in the first quarter, with EVs making up 7.3% of all new vehicle sales, a decrease from the previous quarter in 2023. This downturn might be influenced by several factors ranging from seasonal buying trends to economic and supply chain issues. Although it's too early to call it a trend, continued decline could drive a strategic reassessment among industry stakeholders. In this review, we'll explore the top 10 best-selling electric cars in the US for this period.

1. 2023 Tesla Model Y - 96,729 units sold

In Q3 2023, the 2023 Tesla Model Y, a compact all-electric SUV starting at $47,740 with a range of 330 miles, witnessed a surge in sales to 95,539 units, marking a 58.5% increase from the 60,271 units sold in Q3 2022, thus becoming the best-selling electric car.

In response to this surge in sales, Tesla focused on enhancing production efficiency, which led to a significant reduction in delivery times for the Model Y, thereby further boosting its market appeal and customer satisfaction.

2. 2023 Tesla Model 3 - 53,251 units sold

The 2023 Tesla Model 3, known as the best selling electric car, is available at a starting price of $40,240 and offers a range of 358 miles. It reported sales of 53,251 units in Q3 2023. This marked a 3.2% dip compared to the 55,030 units from Q3 2022.

The Model 3 continues to impress with its advanced technology, including an autopilot feature and a minimalistic interior design, maintaining its status as a top choice among electric vehicle enthusiasts.

3. 2023 Chevy Bolt EV / EUV - 15,835 units sold

The 2023 Chevy Bolt EV/EUV, one of the best selling electric cars, is a compact hatchback priced from $28,795 offering a range of 247 miles. It accumulated 15,835 sales in Q3 2023, an increment of 7.7% from 14,709 units in Q3 2022.

This surge in sales is attributed to its efficient powertrain, upgraded infotainment system, and competitive pricing, making it a favorable option for environmentally conscious consumers.

4. 2023 Ford Mustang Mach-E - 8,633 units sold

One of the best-selling electric cars, the 2023 Ford's Mustang Mach-E, an electric SUV beginning at $45,995 with a range of 312 miles, recorded 14,842 sales in Q3 2023, witnessing a 42.5% rise from the previous year's 10,414 units.

Alongside its impressive sales figures, the Mustang Mach-E has garnered widespread acclaim for its blend of performance and efficiency, featuring a spacious interior, advanced technology, and fast-charging capabilities, positioning it as a highly competitive player in the rapidly growing electric vehicle market.

5. 2023 Hyundai Ioniq 5 - 11,665 units sold

Another best-selling electric car, the 2023 Hyundai's Ioniq 5, priced at $41,450 with a range of 303 miles, achieved sales of 11,665 units in Q3 2023, which is a 143% jump from the 4,800 units of Q3 2022.

This significant growth is attributed to the Ioniq 5's cutting-edge technology, sleek design, and consumer-friendly pricing, factors that have strengthened its market position against competitors and solidified Hyundai's reputation in the electric vehicle sector.

6. 2023 Volkswagen ID.4 - 10,707 units sold

One more best selling electric car: 2023 Volkswagen's ID.4, an electric SUV starting at $38,995 with a range of 275 miles, amassed 10,707 sales in Q3 2023, a 60.8% rise from the 6,657 units of Q3 2022.

This surge in sales not only reflects the growing consumer preference for environmentally friendly vehicles but also demonstrates Volkswagen's successful strategy in competing within the rapidly expanding electric vehicle market.

7. 2023 Rivian R1S - 9,183 units sold

The 2023 Rivian R1S, an electric SUV priced at $84,000 offering a range of 340 miles, showcased impressive sales of 9,183 units in Q3 2023, becoming another best selling electric car, a significant growth from the 263 units of Q3 2022.

The R1S's success is attributed to its advanced features such as autonomous driving capabilities, luxurious interior, and robust off-road performance, appealing to a wide range of customers from luxury SUV enthusiasts to environmentally conscious drivers.

8. 2023 BMW i4 - 6,457 units sold

2023 BMW's i4, one of the best selling electric cars, is a luxury electric sedan with a starting tag of $52,200 and a range of 307 miles. It reported 6,457 units sold in Q3 2023, indicating a 144.8% growth from the 2,638 units in Q3 2022.

This impressive growth trajectory is a testament to BMW's commitment to innovation and sustainability, reflecting the increasing consumer preference for eco-friendly and technologically advanced vehicles in the automotive market.

9. 2023 BMW iX - 5,541 units sold

The 2023 BMW iX, priced at $87,100 with a range of 305 miles, had sales of 5,541 units in Q3 2023, marking a 220.8% increase from the 1,727 units sold in Q3 2022, making it another best selling electric car.

This impressive sales performance reflects growing consumer confidence in electric vehicles and the BMW brand's successful adaptation to the evolving automotive market, further highlighting the iX's appeal in terms of luxury, performance, and sustainability.

10. Hyundai Ioniq 6 - 5,073 units sold

Lastly, the 2023 Hyundai Ioniq 6, one of the best selling electric cars, priced at $41,600 with a range of 240 miles, is a luxury all-electric sedan that reported 5,073 units sold in Q3 2023. As it was not available in 2022, a YOY comparison is not applicable.

The Ioniq 6's success is attributed to its sleek design, cutting-edge technology, and competitive pricing, making it a highly desirable option for consumers seeking an eco-friendly and stylish vehicle.

Top Best Selling Electric Cars in the US Market for Q3 2023:

№	Model	Starting Price	Range	Q2 2023	Q3 2023
1	Tesla Model Y	$47,740	330	105,158	95,539
2	Tesla Model 3	$40,240	358	57,837	53,251
3	Chevy Bolt EV/EUV	$28,795	247	13,959	15,835
4	Ford Mustang Mach-E	$45,995	312	8,633	14,842
5	Hyundai Ioniq 5	$41,450	303	7,905	11,665
6	VW ID.4	$38,995	275	6,690	10,707
7	Rivian R1S	$84,000	340	505	9,183
8	BMW i4	$52,200	307	6,777	6,457
9	BMW iX	$87,100	307	4,135	6,457
10	Hyundai Ioniq 6	$45,500	361	3,023	5,073
11	Tesla Model X	$98,490	348	7,010	4,699
12	Nissan Ariya	$43,190	304	2,335	4,504
13	Mercedes EQE	$74,900	305	1,609	4,457
14	Rivian R1T	$79,000	350	10,239	3,736
15	Ford F-150 Lightning	$51,990	320	4,446	3,503
16	Tesla Model S	$88,490	405	5,257	3,132
17	Cadillac Lyric	$58,590	307	1,348	3,018
18	Hyundai Kona	$33,550	258	3,420	2,892
19	Kia Niro	$39,550	253	3,420	2,855
20	Toyota BZ4X	$42,000	252	1,961	2,827
21	Subaru Solterra	$44,995	228	1,613	2,791
22	Mercedes EQS	$104,400	350	5,528	2,696
23	Volvo C40	$56,395	257	3,368	2,302
24	Porsche Taycan	$90,900	242	1,635	2,050
25	Volvo XC40	$54,645	223	1,403	1,785
26	Lucid Air	$87,400	406	1,659	1,618
27	Nissan Leaf	$28,040	212	1,880	1,570
28	Lexus RZ	$59,650	220	932	1,394
29	GMC Hummer	$106,945	350	47	1,167
30	Vinfast VF8	$46,000	264	740	1,159
31	BMW i7	$105,700	380	464	1,081
32	Genesis GV60	$59,290	248	808	898
33	Audi e-tron	$70,800	226	2,038	661
34	Kia EV6	$48,700	310	4,936	647
35	Polestar 2	$48,400	270	2,837	371
36	Audi Q4 e-tron	$49,800	265	2,495	328
37	Mercedes EQB	$52,750	288	1,892	327
38	Jaguar I-Pace	$71,300	246	80	86
39	Mazda MX-30	$34,110	100	51	34

The table presents the rankings of the top best-selling electric vehicles in the US for Q3 2023. Tesla Model Y retains its dominance, followed closely by the Model 3. Brands like Chevy, Ford, and Hyundai also showcase strong performances in this increasingly competitive market. The diverse price and range options available highlight the evolving landscape of the EV sector.

№	Brand	Q3 2023	Q3 2022	YOY
1	Tesla	156,621	131,024	19.5%
2	Ford	20,962	18,257	14.8%
3	Chevrolet	15,872	14,709	7.9%
4	Hyundai	19,630	5,824	237.1%
5	Volkswagen	10,707	6,657	60.8%
6	BMW	13,079	4,365	199.6%
7	Audi	7,538	3,891	93.7%
8	Kia	9,325	5,583	67.0%
9	Subaru	2,791	-	0.0%
10	Mercedes	10,423	2,717	283.6%
11	Nissan	6,074	1,276	376.0%
12	GMC	1,167	411	183.9%
13	Genesis	1,802	888	102.9%
14	Lucid	1,618	654	147.4%
15	Rivian	15,564	6,884	126.1%
16	Toyota	2,827	-	0.0%
17	Volvo	4,087	542	654.1%
18	Polestar	3,710	2,852	30.1%
19	Porsche	2,050	1,325	54.7%
20	Cadillac	3,018	36	0.0%
21	Mini	516	1,105	-53.3%
22	Lexus	1,394	-	0.0%
23	Jaguar	86	22	290.9%
24	Mazda	34	8	325.0%
25	Fisker	997	-	0.0%
26	Vinfast	1,159	-	0.0%
	Total (Est.)	313,086	209,030	49.8%

In conclusion, the electric vehicle (EV) market in the United States has seen remarkable growth in the third quarter of 2023, with a 49.8% year-over-year increase in sales, reaching 313,086 units. This surge is indicative of heightened consumer interest and environmental awareness. The Tesla Model Y leads as the best-selling EV, demonstrating Tesla's continued dominance in the market. However, other manufacturers like Ford, Chevrolet, and Hyundai are also showing significant gains, reflecting a diversifying market with a wide range of price points and vehicle capabilities. The substantial growth rates of brands like Hyundai and BMW highlight the dynamic nature of this sector. For a more detailed breakdown of the sales figures in the previous quarter, check out the best-selling electric cars, trucks, and SUVs in Q2 2023. Overall, the EV market in the U.S. is not just growing, but evolving rapidly, with a clear trend towards a more varied and competitive landscape.