Available data shows Tesla has been growing its presence in three of its key markets, North America, Europe, and China. According to a StockApps analysis, it grew its U.S market share from 1.2 percent in Q1 2020 to 2.7 percent in Q1 2022. That's a 125 percent jump in its American foothold in the last couple of years.
Edith Reads, StockApps' lead
financial analyst, says, "Tesla's
performance in the EV market has
been impressive. Its market share is
on a steady rise, with more sales
being generated from the key
automotive markets. Also, the
company is acquiring new markets,
boosting the total market share.
This growth contrasts with the
global supply chain trends, which
are currently highly volatile."
The company recorded a boom in
the market share value in 2022. For
instance, in the first quarter of
2022, the company sold more than 310
000 electric cars across different
automotive markets. This value
represents a 68 percent increase
from the previous year.
Tesla's future has never been
rosier. All signs point to it
increasing its market share steadily
over the coming years. Moreover,
with the acquisition of two more
markets, the company is looking
forward to selling even more
electric vehicles in the coming days.
Release Edith, Stockapps.com, London
June 17, 2022