Two Tesla sales regions can tell about the future of the automotive market
Electric car manufacturer Tesla Inc. (TSLA) is successfully increasing production volumes, and its founder, Elon Musk, continues to sell shares to fulfill his dream of flying to Mars. At the same time, with the help of some regions, Tesla demonstrates what the car market can be short.
In the third quarter of 2021 in California, Tesla was in third place in car sales, after Toyota and Honda. At the same time, electric vehicles in the state by 10% more than cars with gasoline and diesel cars. Thus, the Tesla Model Y successfully competes with fossil fuel cars — only the best-selling Honda Civic and Toyota cars (Camry, Rav4, Corolla) sold better.
As can be seen from the graph below, in California, Tesla is in fifth place among the best-selling brands, but it is in first place in terms of the pace of sales change. Indicates the continued popularity of the Tesla brand, and given its age, it is already possible to talk about reputation.
The trend is moving faster in the Norwegian market: There was a 10% excess six years ago, now there are 75% more electric vehicles.
About the peculiarities of the Norwegian car market NAO Inc. (NEO). Thus, using the example of the development of Tesla sales in particular markets, it is possible to judge how the gradual transition to electric vehicles will occur in high-income countries.
The transition is developing rapidly, and in the first half of 2021, electric vehicles and plug-in hybrids accounted for 7.2% of global new car sales. North America lags behind Europe: 3% of sales in the first half of the year, but more is expected in the second: 5%. In monetary terms, the global electric vehicle market’s total volume will exceed $240 billion this year. At the auction on November 29, TSLA stock was worth $1081.92.
