by Chris Adede . Oct 25, 2022
Credit: Tesla Model S
Recent sales in Q3 indicate that Tesla continues to dominate the U.S. market, which it now controls with a market share greater than seven times that of its closest competitors. According to Kelly Blue Book (KBB) sales figures for the third quarter of this year, Tesla has maintained a dominant position in the American market despite the rapid growth of electric vehicles.
Approximately 63% (131,022) of the second quarter's purchases were Tesla models, which accounted for 20,000 units (205,682). According to KBB data, Tesla's closest competitor sold 18,257 electric vehicles in Q3. Although the Blue Oval has improved recently, much work still needs to be done.
KBB sales data indicates that the Tesla Model Y was the best-selling vehicle in Q3, with 60,271 units sold, a 20% increase compared to Q3 2021. In close pursuit was the Tesla Model 3, whose unit sales of 55,030 increased 67% year over year. However, the Model S was the fastest-growing Tesla, with 9,171 units sold, a rise of 150% year-over-year. Tesla Model X, the brand's least popular model, outsold Rivian, Audi, Nissan, Polestar, and Mercedez-Benz, to mention a few, to sell the most astonishing number of units.
Tesla appears to be the leader in the EV market, particularly in the United States. However, you may wonder what the primary reason for Tesla's sales success has been. Even though it is self-evident that being the first to the EV market with a serious product provides a significant head start, studies on this topic have uncovered additional noteworthy information.
According to a poll conducted and released by Escalent, consumers pick Tesla for five main reasons: acceleration, capabilities, performance, build quality, and style, as well as the fact that Tesla is fresh and distinctive. Many investors anticipate Tesla's future sales growth, product expansion, and service expansion. Scaling its long-term goals will give Tesla a fresh perspective now that it has established itself in the global EV market.
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