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Tesla Captured 65% of US EV Market Through 8 Months of 2022, 21% of Premium/Luxury Segment in Q3

Tesla Captured 65% of US EV Market Through 8 Months of 2022, 21% of Premium/Luxury Segment in Q3

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Tesla captured 65% of the U.S. EV market in the first eight months of 2022. The brand also captured 21% of the premium/luxury segment in Q3, leaving its closest competitor BMW in the dust.

Tesla is still the world’s most important manufacturer of electric vehicles. The Texas-based company also has a huge advantage in the U.S., where it single-handedly dominates the market, literally shaping the electric vehicle market. From January to August 2022, 458,786 new electric vehicles were registered in the U.S. and Tesla accounted for 298,383 of them, according to Automotive News. Thus, Tesla accounted for almost two-thirds of all EV sales, accounting for 65% of the EV market.

In addition to its success in the U.S. EV market, Tesla also became the unattainable leader in the premium/luxury segment in Q3 2022, further strengthening its position in the first eight months of 2022. According to the data, total sales in the segment last quarter were 539,807 vehicles, of which about 114,000 were Tesla vehicles. This corresponds to a 21% share in the segment, which is an impressive result. This also shows a significant improvement compared to the same period last year and corresponds to a growth of 47%.

In second place in the premium/luxury segment in Q3 was BMW with 78,031 vehicles sold. Comparatively modest sales results also widened the overall gap with Tesla in 2022 by more than 112,000 units. In third place is Mercedes-Benz with 72,389 units, registering an increase of 31% compared to the same period last year. In fourth place is Lexus with 67,524 units. Audi closes out the top 5 with 39,267 units sold.

Tesla is currently the undisputed leader of the EV market in the US and there is no sign on the horizon that this may change anytime soon. The company has captured the love of consumers and made its cars some of the most desirable in the world. The dominance of the Texas-based manufacturer in the premium/luxury segment—where previously the European brands reigned—further underscores Tesla's superiority.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts; follow him on Twitter

About the Author

Eva Fox

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.

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