New electric vehicle registrations spike in Q1, led by Tesla

Yahoo Finance's Pras Subramanian joins the Live show to discuss electric vehicle adoption in the U.S. and which brands are leading the way.

Video transcript

BRIAN SOZZI: Switching gears, literally, the interest in electric vehicles is spiking in the United States. Registrations for EVs are up a whopping 60% in the first quarter, according to Experian. Tesla taking four of the top 10 spots, with Ford and Kia also in the mix. We should note, newcomers Lucid and Rivian did not make the top 10 list. Yahoo Finance's senior auto correspondent Pras Subramanian joins us now. Pras, good to see you. Kia, how is Kia on this list? Come on, it's Kia.

PRAS SUBRAMANIAN: You know, I got to tell you, Soz, it's because Kia and Hyundai and the Ford Mach-E are the only really EVs that most Americans could afford, right? You were talking about Tesla Model S. That's over 100 grand, right? But the Model Y, the Model 3, and then those three other cars are the ones that people can afford. So we're seeing that, you know, EV market penetration going up to 4 and 1/2% last quarter. Pretty good all-time high for US, but not really, you know, pushing the envelope when it comes to, like, Norway with 86%. So we've got a long way to go, but this is a good first start, I guess, for EV, the EV market to kind of build in the United States.