Tesla accounts for nearly 28% of luxury car sales in the US in Q1 2023. The sales of the brand, which has only four car models in its lineup, surpassed the combined sales of its closest competitors, BMW and Lexus.
Tesla is making major changes to the automotive industry. Its vehicles are increasingly replacing internal combustion engine vehicles, paving the way for electric vehicles. Tesla has taken a strong position in the US luxury car segment, electrifying it. The luxury car segment grew to 616,970 units in the first quarter of 2023, according to the latest data provided by Automotive News (via InsideEVs). This is 23% more than a year ago, and Tesla has played an important role in this.
The Automotive News Research & Data Center estimates that Tesla has delivered about 170,000 units. This means the brand's share in the luxury segment was over 27.5%. This reflects a 55% increase over the same period last year. Tesla's sales are about 20,000 more than the combined sales of its closest competitors, BMW and Lexus.
In Q1 2023, BMW sold around 82,466 vehicles and ranked second in the segment. Its share was 13%, which is 12% more than last year. 17% of them were rechargeable (about 14,000, including 6,588 BEVs). Lexus sold 68,251 vehicles and came in third with a 6% increase in sales. Mercedes-Benz, in fourth place, posted a 1.2% decline to 61,531. However, its BEV sales are rising to 7,341, which is great news. Audi came in fifth with 52,763 sales, up 49% year-over-year. 4,438 of these were electric vehicles.
© 2023, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.