Tesla Dominates with 80%+ Share of US Electric Vehicle Sales in H1 2020

Tesla sales accounted for more than 80% of electric vehicles sold in the U.S. in the first half of 2020, despite the fact that buyers are not receiving federal incentives to buy.

The U.S. is one of the main markets for electric vehicles in the world. Despite the electric vehicle offerings of other automakers, Tesla remains a constant leader. The latest data obtained by Buy Shares shows that Tesla accounted for 81.66% of full-electric vehicles sold in the country in the first half of 2020.

During this period, 87,398 electric vehicles were sold in the U.S., of which an astonishing 71,375 were Teslas. Model 3 became the best-selling model with 38,314 units sold. It is followed by the new Model Y with 18,861 units sold. Of the top 10 best-selling models, four were Tesla.

The Buy Shares study also looked at the most valuable automakers by market cap as of August 19, 2020. Tesla has certainly surpassed other manufacturers with a market cap of $350.08 billion (at the time of this writing on Aug. 21, 2020, the company’s market cap is $384 billion).

Tesla remains an untouchable leader, with a market cap that is now nearly double that of its closest competitor – Toyota. The Japanese company was worth $189.29 (at the time of this writing on Aug. 21, 2020, the company’s market cap is $185 billion, meaning Tesla’s market cap is now more than double).

Tesla is a revolutionary company that is turning the automotive industry upside down, changing the automotive market, our perception of cars, and even our way of life. That is why it is not at all surprising that despite the absence of federal incentives, Tesla cars dominate the electric vehicle market and capture an increasing share of the overall car market.

Source: tesmanian