by Morton E. . Sep 28, 2023
Image Credit: Tesla
Tesla is dominating the US electric vehicle sector so much that its rivals are starting to look like unprofitable, low-volume niche EV makers. What's amazing is that Tesla is accomplishing these feats with just two vehicles: the Model 3 sedan and the Model Y crossover.
Why it matters: According to a Reuters analysis of US EV sales data for the first half of 2023, only a few electric vehicles are selling at high enough volumes today to warrant a full-scale assembly plant. This was despite global automakers launching dozens of new electric cars in the country.
This was highlighted recently when Ford opted to halt the construction of a $3.5 billion battery facility in Michigan. Ford's decision comes as analysts questioned whether the US electric vehicle market will grow fast enough to support automakers' high-profile investments. Ford, together with its peers from legacy auto, has committed billions to the EV transition.
Ford's decision to hit the brakes on a planned $3.5B battery plant in Michigan highlights a challenge for Tesla's growing crowd of rivals in the U.S. market: Tesla is pushing most of them into unprofitable, low-volume niches - Reuters— Sawyer Merritt (@SawyerMerritt) September 27, 2023
On a brand-by-brand basis, Tesla outsold its… pic.twitter.com/jnQDOciQr7
The data: From January to June, Tesla sold 325,291 vehicles in the US. In comparison, GM's Chevy Bolt was a distant 34,943. Ford, Hyundai, and Rivian were next in line. All of Tesla's vehicles placed in the Top 12 of the country's rankings, with the Model 3 and Model Y being number one and two, with first-half sales of 200,000 and 160,000 units, respectively.
On a brand-by-brand basis, Tesla was able to outsell its next 19 competitors 10 to 1 during the first half of the year. This was according to data from S&P Global Mobility.
Cox Automotive also stated that while Tesla has surrendered some of the US' EV market share to rivals, the electric car maker still commands a very large portion of the segment — nearly two-thirds. None of Tesla's competitors have commanded more than 10%.
What we have: One of the best things about Teslas is their capability to go on long trips. Thanks to the Supercharger network, Tesla's EVs are just as capable of traveling long distances as conventional combustion-powered cars. Long trips tend to be tiring though, so it's best to make sure that you and your passengers are well hydrated during your journeys.
With this, consider our Tesla Model Y Refrigerator 35L App Control Trunk Fridge, as well as our Tesla Model Y Fridge Portable Refrigerator Sub Trunk Freezer. Both items are able to store a large amount of drinks, so they're guaranteed to be useful during road trips. Check them out in our shop!
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