Tesla outpaces Volkswagen, Subaru, BMW in 2023 U.S. market share

Image Credit: Joe Tegtmeyer/Twitter

Tesla held 4.2 percent of the total market share in the United States in 2023, outpacing companies like Volkswagen, Subaru, and BMW.

Tesla gained a small portion of market share in the United States’ overall vehicle sector and sold over 25 percent more vehicles in the country in 2023 compared to the year prior.

This morning, Kelley Blue Book published its figures for vehicle sales per manufacturer for 2023. General Motors was still the best-selling car company in the United States, selling 2,577,648 vehicles for the year, a 14.1 percent increase from the year before.

Tesla improved its sales figures by 25.4 percent, with 654,888 sales in the U.S. last year, improving from 2022’s numbers of 522,444.

In 2022, those 522,444 sales were good enough for 3.8 percent of the overall U.S. automotive market, which eclipsed the share automakers like BMW, Mazda, and Daimler had for the year, as those companies reported 2.5, 2.1, and 2.5 percent, respectively.

In 2023, Tesla sales reached a 4.2 percent market share, a 0.4 percent increase. Due to the improvement, Tesla is now above Volkswagen and Subaru, along with the three previously mentioned companies. Volkswagen and Subaru had only 0.1 percent less market share than Tesla.

Other notable changes on the list are a 33 percent increase in sales by Honda, which sold over 1.3 million cars in the U.S. this past year. Tesla was only outpaced in year-over-year change by Honda, Geely-Volvo, Rivian, and Lucid.

It is worth mentioning that Rivian grew from 20,332 sales in 2022 to 50,122 in 2023. Lucid went from 2,656 to 5,779. Geely-Volvo grew from 111,509 to 140,590.

It was a strong performance from Tesla in 2023, and the number should continue to grow into 2024, given that the company is set to offer new products in the U.S. this year.

While the Cybertruck technically started deliveries last year in November, a ramp-up of the pickup would supplement Tesla’s growth in the U.S. in 2024.

Additionally, we are expecting the Model 3 “Highland,” an updated version of the all-electric sedan, to hit the U.S. market in the coming months. It has already been delivered in China, Europe, and the Middle East, and we could see an increase in demand as current owners may want the newest version of the Model 3.

Tesla is also expected to update the Model Y this year, in a project that was rumoredly codenamed “Juniper.” The Model Y is Tesla’s most popular vehicle, and a revamp could increase demand for the car as it will have a new look and new tech.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla outpaces Volkswagen, Subaru, BMW in 2023 U.S. market share
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