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Tesla Dominates the US Luxury Vehicle Market — Top Seller

Tesla Dominates the US Luxury Vehicle Market — Top Seller

Tesla remains the luxury sector leader of the US auto market, surpassing typical leaders BMW and Mercedes-Benz by a wide margin. While Tesla isn’t revealing its specific sales figures, current estimates suggest the automaker has sold its next luxury vehicle competitor with over 100,000 units — another big win for the US auto market.

The Automotive News Research and Data Center estimates that Tesla delivered 114,000 vehicles in the third quarter (CleanTechnica estimates the total was 131,000), representing a 47 percent year-over-year increase. Tesla leads the second bestseller, German automaker BMW, with approximately 112,050 vehicles based on that estimate (or 129,050 by CleanTechnica‘s estimate), while sales of premium luxury cars have risen throughout the year.

Total premium brand sales were 539,807 units in the third quarter, up 7.1 percent. By comparison, the overall auto industry was flat in the quarter, showing the growth of the luxury sector throughout the year.

Luxury automakers are also seeing improvements in supply, according to analysis by Cox Automotive. As of Sept. 26, data shows that the average supply from luxury dealers had increased to 47 days, compared to last month’s average of 44 days.

Throughout the year, BMW and fellow German automaker Mercedes-Benz have traded hands as the luxury sector’s second best-sellers after Tesla. Mercedes had left BMW for more than a year, but rallied in the second quarter to take second place. However, in Q3 BMW took the lead back.

Tesla’s takeover of the top spot for premium sellers in the auto market is likely to precede a decisive win for the year over the German companies, both of which have been key players in the US market for more than a decade.

BMW sold only 6,900 electric vehicles in the US, with more than 4,300 of sales in the third quarter. The automaker cited its US plant in Spartanburg, South Carolina, as part of why the company has accelerated its sales and expects to grow through the rest of the year.

“We took advantage of our home advantage,” said Shaun Bugbee, BMW North America Sales Director. “Our inventory position will improve for the fourth quarter.”

Still, the automaker is a long way from Tesla’s car sales, with the Model Y leading sales in the US and beyond. As the market moves into the fourth quarter, Tesla will also continue to ramp up production at its Gigafactory Texas facility that opened earlier this year, and overseas at its other new factory, Giga Berlin.

Tesla will share its third quarter financial data in an online earnings call on the company’s website today, October 19 investor relations webpage. (CleanTechnica will livestream the conference call in the most comprehensive way on the web.)

Originally published by EVANEX. By Peter McGuthrie


 

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