Tesla Model X

Tesla Model X

One of the overlooked takeaways from Tesla's Q3 sales results was that the Model X has become highly successful within its "large luxury" SUV segment.

Tesla Model X

Tesla Model X

In fact, the Model X nabbed 6% of the segment in Q3, landing it in eight place overall in "large luxury SUV."

From the quarterly report:

“Despite still ramping production, Model X is also gaining market share, already growing to 6% of the U.S. large luxury SUV market in Q3, or #8 in the large luxury SUV category.”

“The large luxury SUV category is three times the size of the large luxury sedan category in the U.S. and represents a huge opportunity to further increase Model X sales.”

The X outsold some big names in the segment, such as Porsche, Infiniti and Land Rover. That's quite an accomplishment for the electric automaker.

Of the X, Tesla says there are numerous reasons it's such a success.

Tesla states the X is the “the safest, fastest and most capable sport utility vehicle in history. With all-wheel drive and a 100 kWh battery providing 289 miles of range, Model X has ample seating for seven adults and all of their gear. And it’s ludicrously fast, accelerating from zero to 60 miles per hour in as quick as 2.9 seconds.”

Seems like an easy sell. Perhaps the only thing holding it back is its high price tag...