Tesla Dominating U.S. Luxury Car Registrations in First Half of 2022, Surging 61% YoY
Tesla’s registrations jumped 61 percent in the first half of this year compared to last, beating out BMW and other gas automakers for the number one spot in luxury sales.
The news, as detailed in a report from Automotive News on Sunday, also showed rising competition in the electric vehicle (EV) space from legacy automakers, though Tesla still held a whopping 68 percent market share in the emerging industry through the first half of 2022.
AutoPacific Industry Analyst Robby DeGraff said, “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.”
Tesla Model Y Tops California Auto Sales, Model 3 Second in First Half of 2022 https://t.co/w0cwQoEftT
— TeslaNorth.com (@RealTeslaNorth) August 9, 2022
Tesla had 228,989 registrations between January and June, rising from 142,543 in the same period of 2021.
Data from Experian showed that traditional luxury automakers such as BMW saw a 13-percent drop from 2021 with just 157,838 vehicles registered, while Lexus fell 19 percent to just 133,616 units registered. Mercedes-Benz dropped by 14 percent in the year’s first half to just 133,520 registrations.
The Tesla Model Y has dominated EV sales in the first half of 2022, with 103,215 registrations, followed by the Model 3 with 97,075 according to Experian data. The Model S and Model X take 4th (15,317) and 5th (13,382) spots respectively, while the Ford Mustang Mach-E sits in 3rd with 18,399.
It’s worth pointing out Ford was able to double last year’s numbers in the first half, while Kia saw its registrations increase 600%, Hyundai at 150% and Polestar with an 800% jump in registrations.
Volkswagen saw a 17% EV decline in the first half, Chevy dropped 68%, Porsche was down 18% and Jaguar EV sales dropped 65%.
Tesla’s production efforts are leading the industry despite an ongoing chip shortage and supply chain headwinds.
Tesla doesn’t publicize sales data, so onlookers use registrations as a rough estimate and comparison for other auto brands.
Only Tesla and Genesis avoided drops in registrations for the year’s first half, and the Elon Musk-led EV automaker is set to help its Model Y electric SUV become the world’s top-selling vehicle overall.