Tesla goes ahead of the competition and creates a wide margin against competitor Volkswagen in 2020's global EV market shares, but will soon change in 2021 based on estimates. The company's market shares are up by 18 percent, outselling well-known car brands Volkswagen, Renault, Hyundai-Kia, and BMW in electric vehicle manufacturing.
NEW YORK, NY - AUGUST 27: Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. The electric automaker saw its stock drop on Monday after its Chief Executive Elon Musk reversed his plans to make the Silicon Valley company private. Tesla shares lost 4% in early trading on Monday.
One of the most favorite electric vehicle manufacturers in the world and clean energy company, Tesla, finally achieves its goal of being the premier EV provider globally, with a massive amount of sales and revenue for this year. 2020 is a blessing in disguise for Tesla as different feats helped the company raise its stocks above the roof.
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Tesla Number 1: Top EV Worldwide Seller of 2020
According to Teslarati, a blogsite called EV Sales Blog recently reported the new development from Tesla, showing its achievement and domination of the world's EV industry, along with a high global market share for the company. Currently, Tesla holds 18 percent of the worldwide market shares of 2020, making it a company high achievement.
Tesla holds a massive 18 percent of the total electric vehicle (EV) sales globally, ensuring control over the market and consumers. 2020 is an enormous year for Tesla after achieving a jump in the stock market in the first half of the year.
The Palo Alto-based company sold 316,820 electric vehicles right from its factories alone. The number is gathered from 2020's third-quarter sales from July, August, and September. A massive five percent (5%) difference sets Tesla apart from the runner-up, Volkswagen, which has 13 percent of 2020's market shares.
Tesla's highest-grossing electric vehicles include the sporty midsized sedan and "hybrid SUV," Tesla Model 3, and Model Y. The cars both received the upgrades and cosmetics refresh from the company this year, updating the look and making it more appealing, and improving its technologies.
Electric vehicles are becoming more popular these days as 2020's third quarter (Q3) alone sold 1,784,293 EVs combined from the five companies. Among the competitors are Volkswagen, Renault, Hyundai-Kia, and BMW, respectively. Most cars on the list were of European makes, Germany and France, with the American Tesla and Korean Hyundai-Kia.
2020 is Tesla's Best Year, So Far; But Will Soon Change?
According to Electrek, 2020 gave the clean energy company numerous achievements so far compared to the previous years that it has operated. This achievement is the best Tesla could do after numerous disputes and issues surrounding the company and put its good name to spoil.
Electrek adds that the company would face a fall in the market shares in 2021 as other competitors bring up their respective EVs against Tesla. The EV revolution will bloom in the coming years and Tesla is speculated to still hold a fair 12 percent share in next year's global market.
Tesla's back-to-back launch and release of new software updates, features, and vehicles undoubtedly paved the way for better market performance. Tesla is known to spend zero dollars on commercial advertisements that undoubtedly take a considerable chunk of the revenue a car company makes. The clean energy company shows a disciplined control over its product that already speaks for itself.
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This article is owned by Tech Times
Written by Isaiah Alonzo
