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Tesla sold 80% of all electric vehicles in the US in first half of 2020

Tesla sold 80% of all electric vehicles in the US in first half of 2020 

As of first half of 2020, Tesla has accounted for 81.66 per cent of all-electric vehicles sold in the United States, according to data from Buy Shares. This works out to be about 87,398 vehicles sold during this period.

Tesla leads the market

Tesla’s famous Model 3 vehicle was the highest selling with 38,314 units. BMW, the Germany-based car brand had the least number of sales with only 251 units of the i3 model. Another data from the research indicated the most valuable carmakers by market capitalization, as of August 19, 2020 was Tesla, which leads the market cap with $350.08 B. Following the Elon Musk-run company is Toyota with a cap of $189.29 B with General Motors having the least market cap with just $41.69 B.

The research data acknowledges the unique products Tesla has created as the main contributor to its top market cap. “Notably, the Tesla car models have contributed to its high market capitalization compared to competitors. Tesla’s business model in recent years has been impressive to investors. The company has transformed from regularly missing delivery targets and production milestones to overdelivering on different fronts. The surge in the market capitalization comes at a time when Tesla reiterated pre-COVID guidance for half-million deliveries in 2020, despite factory shutdowns in both the U.S. and China,” says in the report.

Despite this, Tesla’s market leadership is continually being challenged by traditional manufacturers who are setting up electric vehicle branches.

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