Tesla to Become the US’ Top-Selling Luxury Brand in Q1, Forecast Shows

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Tesla should become the US’ top-selling luxury brand in Q1, Cox Automotive's forecast shows. The manufacturer's sales are expected to surpass those of BMW and Daimler combined. If estimates are correct, Tesla will increase its sales by almost 40%, taking a 5.1% share of the US automotive market.

Tesla's US sales are expected to be at 180,993 in the first quarter of 2023, according to Cox Automotive's forecast. This reflects an increase of almost 40% compared to the same period last year. This would be a record quarter for the company in the US, made possible by a strategic reduction in vehicle prices earlier in the year.

With such a strong sales performance, Tesla would also become the largest luxury car seller in the US in Q1 2023. The data show that the combined sales of BMW and Mercedes-Benz could be 162,186. This means that Tesla's sales sshould exceed the combined sales of German luxury brands, once hugely popular with Americans, by 18,807 units.

Increasing sales in the US would also lead Tesla to an increase in the overall share of the automotive market. Presumably, it will be 5.1%, which is higher than mass-market automakers such as Mazda, Subaru, and even the Volkswagen Group, including Audi, Bentley, Lamborghini, Porsche, and Volkswagen. This is an increase of 1.4% from 3.8% in Q1 2022. This is the largest increase of any automaker to date.

On an annualized basis, Tesla's sales growth in Q1 2023 should be around 39.5%. This is the highest expected figure for any automotive brand selling more than 10,000 vehicles this quarter.

© 2023, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts; follow him on Twitter

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