The latest figures show that Tesla (TSLA) still holds an impressive 18% market share of the global electric car market.
This is about to change and it will not be bad for Tesla, which is about to get a smaller piece of a much larger pie.
For years, Tesla has been a market leader in electric vehicles (BEV and PHEV) with a large volume of production and supply of several vehicle programs.
The Model 3 and Model Y are leaders in EV sales in many markets, while the Model S and Model X still beat many other electric vehicles in terms of volume.
Other carmakers have managed to achieve only a small share of Tesla’s sales in the sector, as they stick mostly to low-volume electric cars.
The result is that Tesla now holds approximately 1
|Pl.||Stamps||Sales in September||Annual sales||Market share|
|1||Tesla||65 814||316 820||18%|
|2||Volkswagen||24 035||113 091||6%|
|3||WORLD||18 631||104 176||6%|
|4||BMW||15 525||101 270||6%|
|5||Renault||13 300||68 928||4%|
|6||Mercedes-Benz||17 836||68,855 th most common||4%|
|7||Volvo||11 838||67 561||4%|
|8||Audi||12 385||67 304||4%|
|9||Hyundai||11 510||63 679||4%|
|10||That||10,937 th most common||59 840||3%|
|11.||SGMW||19 023||58 785||3%|
|12||SAIC||9 967||51 275||3%|
|13||Peugeot||6,994 th most common||43 498||2%|
|14.||Nissan||6,936 th most common||42,181 th most common||2%|
|15||GAC||7,083 th most common||39 833||2%|
|16.||Toyota||5,144 th most common||31 101||2%|
|18.||Mitsubishi||3,417 th most common||28 208||2%|
|19.||Porsche||4,203 th most common||27 928||2%|
|20.||Nio||4,203 th most common||26 498||1%|
|Others||73 177||371 030||21%|
However, this dominance by Tesla is about to change, as the electric vehicle market as a whole is about to change significantly over the next few years.
Tesla currently has about 18% of the global electric car market, which alone has about 3% of the global passenger car market.
In short, Tesla has a large piece of small pie.
Things are about to change quickly with more than a dozen new all-electric car programs launched in the next 12 months alone, and many more coming in the next few years.
Personally, I predict that the market share of electric vehicles will more than double to between 7 and 10% of the global automotive market in 2021 alone.
I expect Tesla to increase its sales by about 50% next year, which will help, but I think Volkswagen with ID.3 and ID.4, Audi with Q4 e-tron, Ford with Mustang Mach E, Nissan with Ariya and many more. others will have an even greater impact than Tesla, increasing sales by 50%.
Therefore, Tesla’s market share in the electric car market will decline, but this will be a smaller part of a much larger market. I think they will continue to lead, but it will be closer to 12% of the market if EV sales reach between 7 and 10% of the global car market.
What do you think will be the market share of electric cars in 2021? Share your predictions in the comments section below.
FTC: We use automatic income partnerships. More ▼.
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.