Tesla has managed to beat premium car giants like BMW, Mercedes-Benz, and Lexus in America's luxury vehicle sales rankings. The company's strategy to start with luxury performance vehicles and use the revenue to develop mass market vehicles like the Model 3 and the upcoming Model 2 is slowly coming to fruition. Tesla is now the first local automaker to head the prestigious luxury vehicles sales ranking in the US in 25 years.
Tesla's Sales Numbers
According to Autonews estimates, Tesla shipped 491,000 premium luxury cars last year, i.e. vehicles above a certain price threshold. This beats the usual suspects like BMW, Mercedes, Lexus, Audi, or Cadillac in the luxury vehicle market. The sales numbers for the top brands in the luxury vehicle market are as follows:
- Tesla: 491,000
- BMW: 332,388
- Mercedes-Benz: 286,764
- Lexus: 258,704
- Audi: 186,875
- Cadillac: 134,726
- Acura: 102,306
- Volvo: 102,038
Tesla's Prices and Profits
Tesla's enviable profits of about US$10,000 per vehicle, and high average selling prices, have now made it the top premium car brand in the US. Tesla's EV prices were increased several times last year before leveling off because of federal subsidies, which have helped move nearly a third of its vehicle sales into the luxury market category. The base Tesla Model Y Long Range sold in the US now starts at $65,990, while the purchase price of the Model 3 Performance is $62,990. Even the cheapest RWD Tesla gets above the $50,000 threshold with a few extras thrown in.
The Impact of the Inflation Reduction Act
It remains to be seen if the Inflation Reduction Act's 2023 new EV subsidy bonanza will affect Tesla's newly minted standing as America's top premium car brand now, a rather quirky position to be in given that Tesla is also rated as the most fuel-efficient automaker in the US. The most popular 7-seater trim of its bestselling Model Y SUV doesn't qualify for the $7,500 subsidy according to the Treasury Department, though, so it may very well beat BMW and Mercedes again, considering the general car market malaise that is expected to hit premium vehicles in 2023 on account of the rise in interest rates.
Conclusion
Tesla's strategy to start with luxury performance vehicles and use the revenue to develop mass market vehicles is slowly coming to fruition. The company has managed to beat premium car giants like BMW, Mercedes-Benz, and Lexus in America's luxury vehicle sales rankings, making it the first local automaker to head the prestigious luxury vehicles sales ranking in the US in 25 years. The impact of the Inflation Reduction Act on Tesla's position as the top premium car brand in the US remains to be seen.
As we have seen, Tesla has managed to beat premium car giants like BMW, Mercedes-Benz, and Lexus in America's luxury vehicle sales rankings, making it the first local automaker to head the prestigious luxury vehicles sales ranking in the US in 25 years. We hope you found this article informative and thought-provoking. We would love to hear your thoughts on this topic, please feel free to leave a comment below and let us know what you think. Share your thoughts with us on social media using the hashtags #Tesla #LuxuryCars #EVs.
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