Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Tesla Vs GM Vs Rivian: Who Gained The Most Market Share In Q1?

Published 28/03/2023, 11:21
© Reuters. Tesla Vs GM Vs Rivian: Who Gained The Most Market Share In Q1?

Benzinga - Tesla Inc (NASDAQ:TSLA) gained the most market share in the U.S. in the first quarter of 2023 despite General Motors Co (NYSE:GM) taking the sales lead.

What Happened: Tesla gained the most market share in the first quarter of 2023 in the U.S., according to new data from Cox Automotive.

Tesla had a market share of 5.1% in the first quarter as opposed to 3.8% in the calendar year 2022, an increase of nearly 1.4%.

Nissan-Mitsubishi (OTC:NSANY) seconded Tesla, gaining 0.7% more market share in the first quarter.

General Motors sold the most vehicles in the first quarter — 587,020 units — but gained only 0.4% market share from 2022.

Tesla, in the meantime, sold 180,993 vehicles in the first quarter, an increase of 39.5% from a year earlier.

The Elon Musk-led company has been ramping up manufacturing at its Berlin gigafactory, reducing its dependence on made-in-China vehicles for European customers.

Its Cybertruck is also the most hotly anticipated EV this year.

Rivian Automotive Inc (NASDAQ:RIVN) marked a 563.8% jump in sales, with 8,145 vehicles sold in the quarter, compared with 1,227 units sold a year earlier. Lucid Motors (NASDAQ:LCID) sales rose over 192% to 1,344 in the same period.

Read More: US-Japan Announce EV Battery Minerals Deal In Bid To Reduce Reliance On China

Check out more of Benzinga's Future Of Mobility coverage by following this link.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.