Electric vehicle leader Tesla Inc TSLA has dominated the electric vehicle (EV) sector of the automotive market for many years and in many parts of the world.
In the U.S., Tesla is the leader in electric vehicles by production and deliveries.
Outside of electric vehicles, Tesla also saw one of its vehicles crack the top ten bestselling vehicles of the entire sector in 2022 in the U.S.
What Happened: Tesla recently announced production and deliveries for the fourth quarter. While the totals came in below analysts’ estimates, they continued to show strong growth and demand on a year-over-year basis for the EV leader.
Related Link: Tesla Will Have A Knockdown 2023 But This Vehicle Alone Has Potential To Restart Delivery Growth
Tesla had one of the top ten selling vehicles in the U.S., according to CNBC, citing a new report from Motor Intelligence. The Tesla Model Y is the sixth bestselling vehicle in the U.S. for the 2022 year.
Tesla’s Model 3 ranked 13th on the list. Tesla does not provide regional sales figures, so the figures are based on estimates.
Here were the top ten bestselling vehicles in the U.S. in 2022 according to the report:
- F-Series, Ford Motor Company F: 653,957 units, -9.9% YOY
- Chevrolet Silverado, General Motors Company GM: 513,354 units, -1.2% YOY
- Ram pickup, Stellantis STLA: 468,344 units, -17.7% YOY
- Toyota RAV4, Toyota Motor Corporation TM: 399,941 units, -1.9% YOY
- Toyota Camry, Toyota: 295,201 units, -5.9%
- Tesla Model Y, Tesla Inc: 252,000, +32.4% YOY
- GMC Sierra, General Motors: 241,522, -3% YOY
- Honda CR-V, Honda Motor Company HMC: 238,155 units, -34.1%
- Toyota Tacoma, Toyota: 237,323 units, -6% YOY
- Jeep Grand Cherokee, Stellantis: 223,345 units, -15.5%
Why It’s Important: Prior to the COVID-19 pandemic, a typical year saw around 17 million vehicles sold in the United States.
The estimate for units sold in 2022 was between 13.7 million and 13.9 million in the report.
A look at the list above shows that of the top ten bestselling models, the Tesla Model Y was the only vehicle that saw units sold grow on a year-over-year basis.
Benzinga recently reported on a prediction that the Model Y could be the bestselling vehicle in 2023 globally.
Tesla has a goal of 50% annual delivery growth for its vehicles and is continuing to ramp up production to meet demand around the world.
In 2021, the Model 3 was the ninth bestselling vehicle worldwide according to a report from Car Industry. The Model Y ranked 19th on that list, moving up 260 positions from the prior year.
The list above could also get Tesla fans and investors excited about the huge opportunity for the highly anticipated Cybertruck electric pickup truck from Tesla.
The top three bestselling vehicles in the U.S. 2022 were pickup trucks and five of the top ten bestselling vehicles were pickup trucks.
The F-Series from Ford topped the U.S. bestselling vehicle list for the 41st straight year, despite having its lowest sales since 2012.
The Model Y and Model 3 could be among the top bestselling vehicles in 2023 with the Model Y having a chance to hit the top five in the U.S. and globally.
Tesla’s Cybertruck launch could become one of the biggest storylines in the history of the company. With a reported reservation total of over 1.5 million units, the Cybertruck could soon find its way on the annual bestselling vehicle list too.
TSLA Price Action: Tesla shares are up 8% to $121.67 on Monday.
Read Next: Here's How Many Vehicles Tesla Has Produced And Delivered In Each Quarter Since 2019
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
