Tesla‘s market share in the electric vehicle industry has reportedly fluctuated during the last two years, according to CleanTechnica.
Despite increasing deliveries by 180% from Q2 2020 to Q2 2022, Tesla’s share of the BEV market fell from 25.1% in Q2 2020 to 15.6% in Q2 2022. This brings together the markets of China, the United States, and Europe based on the information provided by Troy Teslike.
That said, Troy Teslike posted on Twitter about Tesla’s market share in passenger vehicles:
Based on the tweet above, Tesla’s share of the entire auto market dropped in the most recent quarter. Some possible explanations include Tesla having factory or manufacturing line shutdowns in the second quarter, which lowered Tesla’s output.
Furthermore, automakers have begun to recover from the recent supply chain crises, while Tesla’s production declined over some time.
Tesla’s market share remained nearly constant in the United States after rapidly increasing from 2% to 3.5%. It fell from 3.5% in the fourth quarter of 2021 to 3.4% in the second quarter of 2022. Meanwhile, Tesla dipped somewhat in Q2 2022 and fell to 1.9% following a consistent increase in auto market share in China from Q2 2020 (0.6%) to Q1 2022 (2.0%).
On the other hand, the shift was tremendous in Europe. Tesla has reached 2.1% of Europe’s market by Q4 2021 and Q1 2022. It had a continuous increase beginning in Q2 2022 from 0.7%. Unfortunately, Tesla slipped to 0.9% of the auto market some period in Q2 2022.
It is worth noting that Tesla may struggle to increase its market share if the overall auto market recovers significantly as automotive chip difficulties and other supply chain challenges are handled. However, it might regain momentum if some of its own manufacturing constraints are resolved.
Furthermore, it may also increase output rapidly at its two newest plants, Giga Texas and Giga Berlin.
For the time being, Tesla’s market share in the United States, China, and Europe combined was 2.1% in Q2 2022. It was somewhat lower than 2.3% in Q4 2021 and 2.4% in Q1 2022.
However, this is a significant increase from the 0.8% recorded two years before in Q2 2020. Having said that, Tesla appears to be doing rather well in the grand scheme of things. For instance, it would seem much better if people would concentrate on revenue and net profit.
