Thursday, July 7, 2022
HomeElon MuskCompetitors looming, Tesla nonetheless dominates high 10 best-selling EVs in

Competitors looming, Tesla nonetheless dominates high 10 best-selling EVs in


Posted on
May 20, 2022
by
Zachary Visconti

The electric vehicle market in the U.S. is still fairly new, and Tesla has largely dominated that market since its inception. However, competition in the EV space is increasing as legacy automakers begin releasing their own zero-emission vehicles, and although Tesla still dominates the market, the automaker’s market share has gradually been decreasing over the past few years. 

Above: Tesla models parked in a row (Source: EVANNEX)

Tesla’s Model Y SUV and Model 3 sedan were the two top-selling vehicles in the U.S. in Q1 this year, according to a report from MarketWatch (via KBB). The news comes at a time when electric vehicles made up over 5 percent of total car sales for the first time ever, and as many legacy automakers are starting to see substantial sales of their first few EVs.

Tesla sold 46,707 Model 3 units in the first quarter, and its sales of the Model 3 and Model Y combined made up an impressive 68 percent of the overall EV market share. By comparison, Tesla’s vehicles made up 70 percent of the market share in 2021, and they made up 75 percent of the EV market share in 2020.

Still, the slight decline in Tesla’s market share is to be expected, and will continue so long as old wave automakers continue to release their EVs. Despite the increasing competition, traditional automakers have a long way to go before reaching the EV sales volume Tesla has achieved.

Tesla’s Model 3 and Y sales were followed distantly by Ford’s electric Mustang Mach-E, which sold just 6,734 units. Tesla’s Model X followed the Mach-E, and the Model S was the quarter’s seventh most sold EV.

Other vehicles on the top 10 best-selling list for Q1 include the Hyundai Ioniq 5, the Kia EV6, the Nissan Leaf, the Kia Niro and the Audi e-Tron.

The news also comes as Ford, Rivian General Motors and others are releasing their first electric pickups — something Tesla currently doesn’t offer, with the highly-anticipated Cybertruck to begin production next year.

The first 99 buyers received their GMC Hummer EV units in Q1, while 43 took delivery of the Amazon- and Ford-backed startup Rivian’s R1T. Ford is also just beginning delivery of the Ford F-150 Lightning.

For Tesla, the completion of the new Gigafactory location in Austin, Texas will also play a crucial role in the coming years as U.S. EV competition continues to increase. With production set to increase, sales are likely to follow suit, and Tesla is uniquely positioned as a company to weather the oncoming EV revolution.

===

Sources: MarketWatch via KBB

Related Posts

Formula E introduces its stunning third-generation electric race car

Formula E introduces its stunning third-generation electric race car

The recent Formula E race in Monaco was the latest in a long series of auto races to take place in the Mediterranean city-state. Stoffel Vandoorne, driving for Mercedes-EQ, won that race, but it was a historic day for another reason. For…

Read More

Has Elon Musk built the best electric vehicle company on Wall Street?

Has Elon Musk built the best electric vehicle company on Wall Street?

Electric vehicles are quickly becoming the norm for automakers, with Tesla leading the pack for the burgeoning industry. And while the company’s EVs have made it what it is today, Elon Musk’s artificial intelligence and autonomous mobili…

Read More

Mother's Day: One thing is for sure, Elon Musk loves his mom [Video]

Mother’s Day: One thing is for sure, Elon Musk loves his mom [Video]

This week, the CEO of Tesla and SpaceX (and soon-to-be owner of Twitter), Mr. Elon Reeve Musk, enjoyed an evening at the Met Gala with his supermodel mother Maye Musk. There’s no doubt, as we celebrate this Mother’s Day, that the richest…

Read More

Posted in

Electric Vehicles,

Tesla,

tesla news,

TSLA


Previous

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

%d bloggers like this: