Tesla Improved Its Market Share In All Major Markets In 2020
Among the major markets, Tesla’s share is the biggest in the U.S./Canada (under 1.5%), ahead of Europe and China.
In 2020 Tesla sold a total of 499,647 all-electric cars, which is almost 36% more than in 2019.
The growth is not equally distributed in all markets. For example, in Europe, Tesla’s volume decreased, including a significant drop in the share in the BEV segment.
However, when looking at the share in the overall passenger car market, it turns out that Tesla improved its position noticeably in all three of its largest markets: U.S./Canada, Europe and China.
The chart presenting the outcome was attached to the latest quarterly report:
As we can see, the share is close to 1.5% in the U.S./Canada (combined) where Model Y was introduced first, while in Europe and China it’s somewhere in the middle, between 0.5% and 1.0%.
Tesla is expected to significantly increase its sales in 2021, because of the MIC Model Y in China, refreshed Model S/Model X, as well as two new plants that are coming online in Europe and Texas at some point in 2021.
We assume that as a result, the market share should improve to about 1% in China, possibly will improve in Europe, while in the U.S./Canada will move beyond 1.5%.
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