New data from Experian has revealed that Tesla is dominating the United States’ luxury vehicle sector. Tesla’s new vehicle registrations in the US grew 61% in the first half of 2022, allowing the electric vehicle maker to handily beat veteran rivals such as BMW and Lexus in overall sales, not just in the EV segment.
Experian noted that all major luxury car brands except for Tesla and Genesis saw lower registrations in the first half of the year. But while this trend may seem negative for the overall automotive sector as a whole, it should be noted that the sale of all-electric vehicles saw a notable rise in the same period. This was true not just for Tesla but for other EV-makers as well.
Robby DeGraff, industry analyst at AutoPacific, noted that while Tesla’s dominance is expected, the rise of electric vehicles from other automakers is an encouraging sign. “Tesla’s growth is expected, but what’s more exciting to see is the fiery jump in sales for legacy automakers that have introduced new EVs onto the scene only recently,” DeGraff said, according to Automotive News.
During the first half of the year, Tesla’s new vehicle registrations in the United States reached 228,989, a notable increase from the 142,543 that the company posted last year. In comparison, German luxury carmaker BMW saw a 13% drop in new vehicle registrations to 157,838 units, and Japanese luxury carmaker Lexus saw a 19% drop to 133,616 vehicles in 1H22.
Experian‘s data did not just show that Tesla has taken the top spot in the United States luxury auto segment. It also showed that Tesla is still reigning supreme in the all-electric vehicle market, both luxury and mainstream. Tesla currently holds a 68% share in the US all-electric vehicle segment, a number that is similar to the previous year.
Tesla’s growth has been substantial, especially in California, its previous home state. As noted in a previous CNBC report, the Tesla Model Y and Model 3 dominated in California in the first half of 2022, with the two vehicles becoming two of the state’s best-selling cars, electric or otherwise. This was a notable achievement for Tesla, whose California-based Fremont Factory has also earned the title of the US’ most productive car plant.
Don’t hesitate to contact us with news tips. Just send a message to email@example.com to give us a heads up.