Despite Increased Competition, Tesla Still Dominating The U.S. EV Market
The tech and auto manufacturing giant reported a continued stranglehold on the lion’s share of the market in the first half of 2022
Electric vehicles have been an incredibly hot market for the past couple of years. Although an increasing number of companies, both new and established, are flooding consumers with their electric options, data shows that the original leader in the space, Tesla, is still dominating and showing little sign of slowing down.
Fred Lambert of Electrek recently reported on the state of the EV market in the United States. Despite Tesla, which has been the standard bearer in the industry for a number of years, facing more competition with each passing day the numbers show that over the past year their dominance of the American electric car market has remained nearly unchanged.
In 2020, Teslas represented a whopping 79% of all newly registered electric vehicles in the United States. This figure dipped a bit to 69.95% in 2021, but seems to have stabilized for the first half of 2022 as they are still claiming a 68% share of the EV market.
Lambert pointed out that one of the most impressive aspects of Tesla’s continued dominance is that they are churning out even more vehicles to keep up with increasing demand and thus keeping up their large market share. Although other EV manufacturers increased their United States deliveries by approximately 58% in the first half of this year, Tesla’s share of paying customers barely registered any decline.
Out of the 10-ten best selling electric vehicles so far in 2022, Tesla claims four of the top five spots, including the top two with their Model Y (103,215 cars) and their Model 3 (97,075 cars) respectively.
Rounding out the top 10, The Ford Mustang Mach-E ranks third, while Kia (2), Hyundai and Nissan all have entries. Coming in at number 10 with 4,873 units is the Polestar 2; a company that is charging hard with increasingly impressive production numbers.
With every passing day, Tesla’s ability to command such a distant lead on their competitors will become more difficult. As other technology and options hit…