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The Rise of Tesla: Model 3 and Y Dominate Global EV Sales

  • Tesla's global sales have seen a significant rise since 2018, with a focus on Model 3 and Y production.
  • The Model 3 and Y have been the key drivers behind Tesla's profitability and market dominance in the EV sector.
  • Tesla's strategy of shifting from luxury to mass-market models has been pivotal in its success, a model now being followed by other EV manufacturers like Rivian.
Tesla

In the last five years, Tesla stock has exploded upwards more than 800%.

From a company that was perpetually on the verge of bankruptcy, Tesla has emerged as the EV manufacturer to beat in the automotive market.

A huge part of the success comes from Tesla’s sales which jumped 30x in the same time period.

Visual Capitalist's Marcus Lu and Bhabna Banerkjee take a look at the numbers, as well as the sales share between the different Tesla models from 2016-2023 using data from CleanTechnica, an archive for news and data around clean technology.

Tesla’s Global Sales Sales Through the Years

From 2018 onwards, Tesla’s global sales began to skyrocket. Though quarter-on-quarter growth wasn’t always positive, dips were followed by more breakout numbers.

Here’s the model breakdown of Tesla’s global sales, from Q2 2016 to Q3 2023.

Date

Tesla Model S

Tesla Model X

Tesla Model 3

Tesla Model Y

Q2 2016

9,764

4,638

N/A

N/A

Q3 2016

16,047

8,774

N/A

N/A

Q4 2016

12,700

9,500

N/A

N/A

Q1 2017

13,481

11,570

N/A

N/A

Q2 2017

12,010

10,010

N/A

N/A

Q3 2017

14,065

11,865

220

N/A

Q4 2017

15,200

13,120

1,550

N/A

Q1 2018

11,730

10,070

8,180

N/A

Q2 2018

10,930

11,370

18,440

N/A

Q3 2018

14,470

13,190

55,840

N/A

Q4 2018

13,500

14,050

63,150

N/A

Q1 2019

6,000

6,100

50,900

N/A

Q2 2019

8,422

9,300

77,634

N/A

Q3 2019

8,383

9,100

79,703

N/A

Q4 2019

8,375

11,100

92,620

N/A

Q1 2020

4,525

7,705

73,975

2,291

Q2 2020

3,927

6,687

63,793

16,484

Q3 2020

4,583

10,693

94,049

30,269

Q4 2020

6,060

12,860

126,624

35,123

Q1 2021

1,010

1,010

115,077

67,780

Q2 2021

890

1,000

110,054

89,360

Q3 2021

9,000

ADVERTISEMENT

275

111,225

120,800

Q4 2021

4,050

7,700

140,000

156,850

Q1 2022

7,362

7,362

129,764

165,560

Q2 2022

8,081

8,081

100,066

138,467

Q3 2022

7,469

11,203

120,308

204,850

Q4 2022

6,344

10,803

135,846

252,285

Q1 2023

3,695

7,000

132,180

280,000

Q2 2023

6,225

13,000

146,915

300,000

Q3 2023

5,985

10,000

117,074

302,000

Total

254,283

269,136

2,165,187

2,162,119

Note: Beginning in 2020, Tesla’s reporting began to combine Model 3 & Y sales together. Model-specific data from this point is based on CleanTechnica’s estimates.

Aside from this steep rise, another key factor to note is how Tesla’s lineup has changed. The company began ramping production with the Model S and X, two luxury models that helped the brand build a prestigious image.

However since 2020 , the company has successfully transitioned to cheaper high volume models like the Model 3 and Y.

In fact, 2020 was also the first year Tesla turned a profit thanks in part to the Model Y.

The Model 3 and Y were also the world’s best-selling EVs in 2023.

Tesla’s presumed rival, Amazon and Ford-backed Rivian, is planning a similar approach. Its first models include the relatively expensive, full-size R1T and R1S. However the company has hinted at a 2024 reveal for its cheaper R2 model, with production starting in 2026.

By Zerohedge.com

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