Follow
Subscribe

Tesla's Share of the U.S. Plug-in Market Increases to 68% in June

Home > News > Content

【Summary】Tesla managed to secure a 68% share of all plug-in electric cars sold in the US. This is a record high for the electric car manufacturer

Manish Kharinta    Jul 06, 2019 1:00 PM PT
Tesla's Share of the U.S. Plug-in Market Increases to 68% in June

June was a very good month for electric car pioneer Tesla. Last month, the company managed to deliver 25,700 electric cars in North America. This marked a milestone for Tesla, as it recorded an impressive growth rate of 129% (year-over-year) as of June 2018.

Tesla also managed to secure a 68% share of all plug-in electric cars sold in the U.S. This is a record high for the electric car manufacturer in the plug-in segment. Tesla also accounted for 84% share of the all-electric car segment in the USA.

The company's mass-market offering Model 3 is contributing to Tesla's impressive growth. The Model 3 experienced a significant surge in demand, which helped Tesla close the first half of 2019 by selling 83,875 units of the electric compact sedan. This also helped Tesla become a front runner in the plug-in segment. 

21,225 Model 3's were delivered in the first half of 2019, which as compared to the same period last year, reflects a growth rate of 260%. 

The Model 3's impressive sales numbers do not come as a shock because the electric car manufacturer recently introduced the "Standard Range Plus" variant of Model 3. This variant with its partial premium interior gets a $39,900 price tag, which Tesla claims will actually amount to just $31,225 after deducting the potential incentives and gas savings.

The second best selling offering is Tesla's Model X sport utility vehicle. However, compared to Model 3, the overall growth of Tesla electric SUV seems unimpressive. With 2,725 recorded deliveries so far this year, the growth rate of Model X stands at just 7%. 

For Tesla, its a double-edged sword. The popularity of Model 3, as a result of its attractive price tag and performance stats, also happens to be the very reason behind the decline in demand for other Tesla's other offerings.

In the case of Tesla Model S, it becomes even more evident that the growing popularity and demand of Model 3 is cannibalizing sales of other offerings by the carmaker. With only 1,750 deliveries so far, the growth rate of Tesla Model S is down by 36%.

As of last month, Tesla has managed to sell over 435,000 units in cumulative sales, of which around 210,000 cars sold were Model 3s. Over the course of the last 12 months, Tesla has managed to sell over 230,000 EVs, an impressive feat for the automaker.

Prev                  Next
Writer's other posts
Comments:
    Related Content