Tesla controls nearly a third of the global electric vehicle market

Tesla controls nearly a third of the global electric vehicle market

August 8, 2020 0 By autotimesnews

EV Sales has published a ranking of global electric vehicle sales in 2020. In the first half of the year, Tesla sold over 179,000 electric vehicles and occupied 28% of the global market. These numbers are even more impressive as sales of Elon Musk’s company compare with its closest competitors: it sold as many electric cars as the next three automakers combined.

Despite the fact that industry analysts believe that Tesla is holding its leading position only because of the slow abandonment of gasoline cars by leading automakers, Musk’s company is increasing its lead from year to year. 2020 was no exception, Tesla took first place in the EV Sales ranking, followed by the Renault / Nissan alliance, which sold 65 thousand electric vehicles and gained 10% of the market. In third place is the German car manufacturer Volkswagen Group – it sold 64 thousand electric vehicles, which also gives it 10% of the market.

The fourth and fifth places are occupied by the Chinese BYD and Koreans from Hyundai / Kia. They sold approximately 43,000 electric vehicles each and each accounted for 7% of total sales.

“Looking at electric cars alone, Tesla lost 1% in the first quarter, but is still up 5% from 2019. And the Renault / Nissan alliance lost a significant share in the second quarter and cut results from 13% to 10%, although this is still better than 8% in 2019. At the same time, Volkswagen Group is really increasing supplies, lagging behind the alliance by less than a thousand cars, ”the explanatory note to the rating says.

Competition in the second half of 2020 could be tougher. The electric hatchback Volkswagen ID.3 just went on sale, so it was not included in the rating, Volvo launched the Polestar 2 sedan, but the first deliveries will begin only at the end of summer, and Mercedes-Benz is now preparing to release the premium sedan EQS.

Tesla also plans to significantly increase global electric vehicle shipments in the next few months. The company is expanding its production capacity and plans to produce 300,000 electric vehicles by the end of 2020. Tesla’s most popular model at the moment is the most affordable Model 3.

In an interview with Automotive News podcast, Musk said he was ready to quickly develop and market a “regular pickup” if sales of the futuristic Cybertruck fail.