A car passes by the new Tesla factory built in Shanghai on November 8, 2019. Image: AFP / Hector Retamal via AFP Relaxnews
This week Tesla was crowned the world’s largest market cap automaker. At $ 208 billion, the company is now worth more than Toyota, despite failing to meet its very limited production and profit targets. A pioneer of all-electric vehicles, Tesla enjoys cult status and has passionate fans. It also benefits from increased sales worldwide, which increase year after year.
Best-selling model 3
According to recently announced figures, Tesla sold 90,650 cars in the second quarter of 2020. The number is slightly below the same period in 2019 due to the coronavirus health crisis. This means that in the first half of this year, the American automaker sold a total of 179,146 vehicles, of which the overwhelming majority (over 80%) were entry-level model 3 sedans selling for prices starting at $ 35,000.
It should also be noted that the brand’s initial sales target of 500,000 units sold in 2020 now appears to be unattainable. It remains to be seen whether the automaker can break its current sales record set in 2019, when it sold 370,000 vehicles.
After the United States and Europe, Tesla plans to conquer China
Not surprisingly, Tesla sells most of its production in the United States, which accounts for nearly three-quarters of the manufacturer’s sales.
In Europe, the brand continues to gain ground, despite the low delivery rate. In 2019, one in three electric cars sold in Europe was a Tesla. Last year, the Model 3 was also the best-selling car in any category in Norway, where more than 4 out of 10 new cars sold are electric. In France, Tesla sold just over 7,400 cars last year, making it the leading foreign seller of all-electric vehicles in the country. French buyers in the electric vehicle market tend to favor French brands, notably Renault, the undisputed leader in the country with its Zoé, and Peugeot, which is enjoying fast-growing sales for its e-208.
Now Tesla is preparing to attack the Chinese market. The manufacturer recently opened a vast new “gigafactory” near Shanghai, which will supply future orders from Asia. It is also reported that the American automaker is considering launching a new reduced-price model that will go exclusively to the Chinese market. JB
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