The U.S. car market saw a fascinating shift in 2023. While Ford Motor Co. (NYSE:F) solidified its lead, Tesla Inc.‘s (NASDAQ:TSLA) surge in each state was the most eye-catching, suggesting a growing appetite for electric vehicles despite an overall slowdown in demand.
Traditional Trucks Remain Strong, But Tesla Is Charging Up
Pick-up trucks continued to hold sway, notably with Ford’s F-Series leading sales in 22 states, up from 14 in 2022, according to data from Edmunds. This underscores their enduring popularity for work and utility, particularly in states like Texas and Oklahoma. Notably, these gains were mostly at the expense of General Motors Co.'s (NYSE:GM) Chevrolet Silverado, which lost its top spot in six states.
Tesla’s rise, however, could not be ignored. The electric car manufacturer secured the top spot in seven states and Washington D.C., clocking a remarkable 700% increase from its single-state dominance in 2022 ...