Leading American automaker Tesla has previously set a target of a 50% sales growth year-on-year in 2022, as per InsideEVs. Now, Cox Automotive’s data suggests that the automaker’s target might be possible in the United States.
However, previous reports and analysts’ predictions say otherwise.
Tesla may or may not hit its 50% sales growth target
Tesla may not achieve its 50% sales growth target in 2022 due to market uncertainty, adversity, global supply chain and demand issue, etc.
Despite those challenges, the automaker persisted in delivering as many EVs as possible before the year was over.
What must be done?
Tesla must sell more than 1.4 million EVs worldwide this year to at least come close to its sales growth target.
Notably, the EV giant is projected to sell close to 134,000 EVs in the US in Q4 2022, according to Cox Automotive’s thorough analysis. That number represents a YoY growth of 16% from Q4 2021.
Considering all of Tesla’s estimated 2022 US sales, Cox expects it to deliver up to 525,000 EVs to the US by the end of 2022. That number represents a 48.9% year-over-year sales increase in the US. Therefore, Tesla’s projected sales growth is short of 1.1% of its target.
However, it must be noted that these are just estimates. We could only wait for Tesla’s official report once Q4 2022 ends. Nonetheless, the automaker persisted in setting new records in major markets, including China and Europe.
Furthermore, Tesla has also offered various incentives and discounts in an effort to reduce its US inventory this year.
With Tesla’s compelling marketing tactics and general efforts, it would not be surprising if Tesla actually achieves its 50% sales growth target this year.
