Zinger Key Points
- Tesla grew its market share among automotive companies in America in 2023.
- The company posted the third largest market share gain of the companies shown in a new report.
Electric vehicle leader Tesla Inc TSLA had an exciting 2023 with the Model Y dominating sales charts globally and the first deliveries of the Cybertruck electric pickup truck.
What Happened: The Tesla Model Y recently became the best-selling electric vehicle of all time with more than two million units sold, an impressive feat for the Elon Musk-led company.
In the United States, Tesla had 654,888 units delivered in 2023, according to data from Kelly Blue Book. The latest figure showed year-over-year growth of 25.4%.
Tesla also improved its market share with a reported 4.20% according to the report, shared by the Twitter account of Car Dealership Guy.
For those who are fans of Musk, they know the Tesla CEO's love of the popular meme and social media numbers 420 and 69.
"You can't make this up Tesla ended 2023 at exactly 4.20% market share," Car Dealership Guy tweeted.
Musk took to Twitter to share the figure Monday and remind people that he was born 69 days after 4/20, with a birthday on June 28, which is one of Benzinga's fun facts about the billionaire.
Related Link: Here’s How Many Vehicles Tesla Has Delivered, Produced In Each Quarter Since 2019
Why It's Important: Tesla ranked eighth by market share for overall automotive deliveries in 2023 according to the report.
General Motors Company GM ranked first for American sales at 16.5% market share, gaining 0.3% for the year. Toyota Motor Corporation TM and Ford Motor Company F ranked second and third respectively, but both had losses in market share.
Toyota finished the year at 14.4%, losing 0.8% in share. Ford ended the year at 12.7%, losing 0.6% in market share.
Ranking sixth at 8.4%, Honda Motor Company HMC had the biggest market share gain of the top 10 American automotive companies by deliveries, gaining 1.3%.
Tesla's 0.4% market share increase was the third-largest share gain of the companies listed, trailing only Honda and Nissan.
With 4.2% market share, Tesla ranked ahead of other well-known automotive companies like VW, Subaru, BMW and Mazda.
Musk isn't ready to stop the growth yet and has his eyes set on another one of his favorite numbers.
"6.9% is the next milestone," Musk tweeted.
Read Next: Tesla Q3 Earnings Highlights: Revenue Miss, EPS Miss, Cybertruck Launch Set For November And More
Photo: Shutterstock
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