Benzinga - Tesla Inc (NASDAQ: NASDAQ:TSLA) overtook BMW, according to DriveTeslaCanada, to become the top-selling luxury car brand in the U.S. in 2022.
What Happened: This marked the first time Tesla had outsold BMW in the U.S. market. Tesla gradually increased its market share in the U.S. luxury car market over the past few years. This growth was largely driven by the launch of the highly popular Model 3 and Model Y electric vehicles.
In 2022, Tela was estimated to have sold more than 491,000 cars in the U.S., more than 56% higher than what it was able to sell in 2021. That was 158,612 more than BMW, which sold 332,388 cars in the U.S. in 2022 and was actually a 1.3% reduction in sales for BMW compared to the year before.
Why It Matters: Tesla's success in the U.S. is a sign of the company's growing global presence and the increasing demand for electric vehicles. The company is now one of the largest luxury car makers in the world, with the company having a presence in more than 40 countries.
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Photo: Tesla Model Y, courtesy Tesla
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