Tesla Model 3 Accounted For Over Half Of All Midsize Luxury Car Sales
Tesla Model 3 leads the midsize luxury segment in the U.S.
According to the latest sales data of the midsize luxury segment gathered by Good Car Bad Car, combined with IinsideEVs’s own Tesla Model 3 sales estimation in the U.S., the newest Tesla makes a kind earthquake in its class.
In October 2018, Tesla sold approximately 17,750 Model 3, while the overall sales of midsize luxury cars was 34,078, which translates to 52% for the Model 3.
The question is whether Tesla is expanding the segment or gobbling up sales of other models?
A year ago, sales of midsize luxury cars in October amounted to 19,158 (including about 145 Model 3), which means that this year the segment grew by 14,920.
It leads us to the conclusion that Tesla Model 3 sales mostly expand the midsize luxury segment, and partially (by about 15%) grabbed sales from others compared to the previous year (in very simple terms).
A Similar situation is on our radar for the first 10 months of 2018. Sales of midsize luxury cars so far this year hit 257,145 (including about 96,417 Model 3, according to Good Car Bad Car), while a year ago it was 185,983. The segment grew by 71,162, so Tesla again consumed over 13% (about 25,000) of other manufacturers’ sales in 2017.
Source: Good Car Bad Car