In 2020, plug-in car sales continue to rise despite the overall fall in the auto market, due to the aftermath of COVID-19. Tesla (NASDAQ: TSLA) continues to occupy the leading position with an 18% share in the segment.
The plug-in market is up 11% this year. Tesla showed +24% growth, Hyundai-Kia +29% and BMW +17%, while the Volkswagen Group grew +168%, especially thanks to the recently introduced, albeit significantly delayed, ID.3, according to EV-Sales data.
For three quarters of 2020, Tesla sold 316,820 vehicles, making it the leader among all BEV and PHEV manufacturers. In second place, with 13% of the market share, was Volkswagen Group with 231,414 registrations. Renault Nissan sold 139,987 units, Hyundai-Kia had 123,519, and BMW Group, 120,620, which bringing them into third-fifth places, respectively.
PHEV + BEV
Source: EV-Sales
In the BEV segment, Tesla has a 26% market share. It is followed by the Volkswagen Group with 120,793 sales, corresponding to a 10% market share. Third place went to Renault Nissan with 109,095 registrations. SAIC sold 97,086 units and Hyundai Kia sold 85,829, bringing them fourth and fifth places.
BEV
Source: EV-Sales
Tesla's sales so far outstrip those of any automaker in the plug-in segment. During the Q3 2020 Earnings Call, Tesla CEO Elon Musk hinted that, in 2021, the company could deliver from 850,000 to 1,000,000 units, which means that production could increase by 1.7 to 2 times where it is today.
Tesla vehicles are in high demand, which will only continue to grow for the foreseeable future, for a number of reasons. More and more consumers are looking to switch to green vehicles, and government incentives are making electric vehicles even more affordable. In an effort to own the best electric car--which is not only qualitatively different from other EVs, but also from gas-powered cars--people are increasingly choosing Tesla. That is why Tesla's global sales figures will continue to grow and the company will likely maintain its leadership for years to come.
© 2020, Eva Fox. All rights reserved.
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Article edited by @SmokeyShorts, you can follow him on Twitter
About the Author
Eva Fox
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.
