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Home / Business / Tesla (TSLA) still holds an impressive 18% share of global electric vehicle sales, but that’s about to change.

Tesla (TSLA) still holds an impressive 18% share of global electric vehicle sales, but that’s about to change.



The latest data shows that Tesla (TSLA) still holds an impressive 18% market share in the global electric car market.

That is about to change, and it won’t be a bad thing for Tesla, who is about to get a smaller piece of cake in a much larger one.

For many years now, Tesla has led the electric vehicle market (BEV and PHEV) with volume production and a number of vehicle programs.

The Model 3 and Model Y are leading EV sales in many markets, while the Model S and Model X are still beating many other electric models in volume.

Other carmakers are only able to achieve a fraction of Tesla’s sales in this sector because they are mostly stuck on low volume compliant electric cars.

As a result, Tesla now holds about 1

8% of the global electric vehicle market by 2020 while Volkswagen is in second place with only a third of Tesla’s production (via EV Sales Blogspot):

Please. Brand Sales in September Annual sales Market share
first Tesla 65,814 316,820 18%
2 Volkswagen 24,035 113,091 6%
3 WORLD 18,631 104,176 6%
4 BMW car 15,525 101,270 6%
5 Renault 13,300 68,928 4%
6 Mercedes-Benz 17,836 68,855 4%
7 Volvo 11,838 67,561 4%
8 Audi 12,385 67,304 4%
9 Hyundai 11,510 63,679 4%
ten That 10,937 59,840 3%
11 SGMW 19,023 58,785 3%
twelfth SAIC 9,967 51,275 3%
13 Peugeot 6,994 43,498 2%
14 Nissan 6,936 42,181 2%
15 GAC 7,083 39,833 2%
16 Toyota 5.144 31,101 2%
17 Ford 2,944 30,432 2%
18 Mitsubishi 3,417 28.208 2%
19 Porsche 4.203 27,928 2%
20 Nio 4.203 26,498 first%
Other 73,177 371,030 21%
Total 345,519 1,784,293 100%

However, this dominance of Tesla is about to change as the overall electric vehicle market is about to change significantly over the next few years.

Electrek’s Take

Currently, Tesla has about 18% of the global electric vehicle market, and itself accounts for about 3% of the global passenger car market.

In short, Tesla has a small piece of cake.

Things are about to change rapidly with more than a dozen brand-new electric vehicle programs rolling out over the next 12 months and more coming in the next few years.

I personally predict that the market share of electric vehicles will double to 7-10% of the global auto market by 2021 alone.

I expect Tesla to increase sales by about 50% next year which should help, but I think Volkswagen with ID.3 and ID.4, Audi with Q4 e-tron, Ford with Mustang Mach E Nissan, Ariya and others will have a bigger impact than Tesla’s 50% sales increase.

As a result, Tesla’s share of the electric vehicle market will drop, but it will be a smaller share of a much larger market. I think they will remain the leader, but will get closer to 12% of the market if electric vehicle sales are between 7 and 10% of the global auto market.

What do you think will be the market share of electric vehicles in 2021? Let us know your predictions in the comments section below.

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