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According to Cox Automotive [1], through the entirety of Q1 2023, Tesla's US EV market share is 62.4%. I'm not sure why Jalopnik elected to use data from only J
by bhauer 3y ago
According to Cox Automotive [1], through the entirety of Q1 2023, Tesla's US EV market share is 62.4%. I'm not sure why Jalopnik elected to use data from only January and February, but given their editorial history with respect to Tesla, it's not especially surprising they cherry-picked. You can see the Cox Automotive data rendered as a chart in [2].
In general, EV market share is a misleading metric since a decline for anyone holding a 100% market position is inevitable. Market share will drift downward as the number of deliveries from competitors grows; it doesn't seem rational to expect Tesla to retain 50+% of the US EV market share in the long term. Spinning that gradual decrease in EV market percentage as a dire concern reeks of an agenda.
It's also bizarre to focus on Model S, when Tesla's Q1 press release [3] says that Model S and X units are in transit overseas. S and X are manufactured in California and shipped to customers worldwide. Some of those customers have been waiting two years for their orders to be fulfilled. It's clear Tesla finally prioritized some overseas delivers of those two models to satisfy their shockingly-patient overseas customers. Contrary to the Jalopnik narrative, even with a large portion routed to other countries, US sales of S and X still exceeded popular media darlings (and good cars, mind you) such as the Rivian R1T (outsold by Model X) and F-150 Lightning (outsold by Model S).
[1] https://www.coxautoinc.com/market-insights/q1-2023-ev-sales/ https://www.coxautoinc.com/market-insights/q1-2023-ev-sales/
[2] https://pbs.twimg.com/media/Fth_aAtXwBQDUvK?format=png&name=900x900 https://pbs.twimg.com/media/Fth_aAtXwBQDUvK?format=png&name=...
[3] https://ir.tesla.com/press-release/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-first-quarter-2023 https://ir.tesla.com/press-release/tesla-vehicle-production-...
- lokar 3y agoIt may not be rational to assume they would keep 50%+, but it was certainly the basis for the stock price.
- Xorakios 3y agoI don't think anybody is investing in Tesla stock about the cars. That's huge right now, but the future for Tesla as company is in power generation and batteries. The cars are just getting them there. (though I thought that about the iPhone, so perhaps for once in a lifetime I might be incorrect :)