Experian, the world’s leading global information services company, revealed that Tesla is leading the United States‘ luxury vehicle sector. In the first six months of 2022, registrations of Tesla’s new vehicles increased to 61%, beating its veteran competitors, including BMW and Lexus, in the electric vehicle sector and overall sales.
Tesla registered 228,989 new vehicles in the US during the first half of the year, which is a significant rise from the 142,543 registrations it reported the previous year. In contrast, Japanese luxury carmaker Lexus saw a 19% drop to 133,616 new vehicle registrations, while the German luxury carmaker BMW saw a drop to 157,838 units in 1H22.
Although these reported declines may seem bad for the automotive sector, it should be observed that during the same period, sales of all-electric vehicles increased significantly.
“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,” The industry analyst at AutoPacific, Robby DeGraff, said.
In the first half of 2022, the Tesla Model Y and Model 3 became two of the state’s best-selling cars in California. Fremont Factory in California has also been named the most productive car plant in the US. In fact, 68% share in the US all-electric vehicle segment is owned by Tesla, just like the previous year.