Tesla proves dominance in the EV market with a 75 percent market share

According to the latest data of the California-based vehicle valuation and automotive research company Kelley Blue Book,  Tesla has the lion’s share with 75 percent market share in the electric vehicle market in the first three months of 2022.

Tesla has dominated the electric vehicle market for years in the United States. The electric vehicles manufactured by Tesla accounted for 79 percent of the new electric vehicles registered in the United States in 2020 and 69,95 percent in 2021. The decrease in the market share in 2021 might be explained by backlogs and the global chip shortage, but the company is ramping up its sales and has already increased its market share to 75 percent in the first quarter of the year.

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The latest registration data shows that Model Y and Model 3 are the most selling electric vehicles in the United States.

Top 10 EVs sold in the US

According to Kelley Blue Book, the top 10 EVs sold in the US in the first quarter of 2022 are;

1. Tesla Model Y
2. Tesla Model 3
3. Ford Mustang Mach-E
4. Tesla Model X
5. Hyundai Ioniq 5
6. Kia EV6
7. Tesla Model S
8. Nissan Leaf
9. Kia Niro
10. Audi e-Tron

Tesla has delivered 310,048 vehicles in the first quarter of 2022, another first-quarter record. The success of Tesla is proven once again as the company has three electric cars in the top 10 most selling electric vehicles in the United States, while no other manufacturer has even two different models on the list.

The gap between sales of the third and the fourth place is also significant. In the first three months of the year, Tesla sold 43,707 Model 3 vehicles, while Ford sold only 6,734 Mustang Mach-Es.

Tesla’s success is significant as its first-quarter results were hindered by the Giga Shanghai manufacturing plant shut down towards the end of the three-month period because of the increase in COVID-19 infections. The company is also dealing with ongoing supply chain challenges, just like the other automakers in the industry. 

The global electric vehicle market is no different than the U.S. market. In 2021, Tesla’s global market share was at 13,84 percent, followed by Volkswagen with a market share of 11,28 percent.

Meanwhile, Volkswagen closely followed Tesla’s market share in the global EV market in 2021. Volkswagen followed Tesla closely in the global market with a market share of 11,28 percent, while the latter’s share was 13,84 percent.

Tesla’s goal is to produce up to 1.5 million vehicles in 2022. It also plans to start production on its other vehicles by 2023, including the long waited Cybertruck, Semi, and Roadster.

While the competition in electric vehicles heats up, electric vehicles represent 5 percent of the overall auto market, and this is another first time in the United States.