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



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

8% of the global electric vehicle market so far in 2020, with Volkswagen coming a far second with just a third of Tesla’s volume (via EV Sales Blogspot):

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%
17 Ford 2944 30 432 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%
Total 345 519 1,784,293 100%

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.

Take Electrek

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.

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