EVs eclipse 20% share of market for the first time.
In January, Tesla Inc. lead U.S. luxury market sales, lapping segment leader BMW in new vehicle registration, finds Experian data.
Electric vehicle registrations jumped 95% to 133,509 in January through April, compared to the same period in 2020.
The analysis, which looked at more than 1.9 million return-to-market events during the first quarter, found that 63% of SUV/CUV owners who returned to market for a new vehicle during the first quarter purchased another SUV or CUV.
Despite opposition from state dealers, the Iowa Department of Transportation has proposed a hike in registration fees from 5 to 6 percent. The state dealer association claims the increase will hurt sales.
