Tesla records 105% sales growth in the US in August, doubles market share

Tesla sold 47,629 cars in August in the US market, up from 23,140 units sold in 2021. Also, the automaker's latest sales result marked around 11 per cent sales growth compared to July this year. The automaker appeared to be continuing its month-on-month growth momentum. The automaker also posted a whopping 105.8 per cent growth this year as compared to last year. With this, Tesla has been able to ramp up its market share to 4.1 per cent this year, up from 2.1 per cent in 2021. With this sales performance, Tesla has been able to inch closer to Nissan and Volkswagen's market share this year.

However, Tesla's market share in the US is still far behind General Motors' 16.4 per cent or Toyota's 14.8 per cent. Not only in the US, but the US electric car manufacturer has been doing well elsewhere too. In Australia, it outsold the ever-popular Toyota Camry and became the fourth-best selling vehicle in the country in August. In China, Tesla has been building and selling cars more quickly than ever. The automaker sold 77,000 units of Model 3 and Model Y sales combined last month alone.

In Europe, the Tesla Model 3 and Model Y are still the two most popular electric vehicles, and it controls just under 7 per cent of the continent’s plug-in vehicle market share. Its share is set to grow more as the Shanghai Gigafactory has resumed production after several lockdown-related shutdowns, while production at Giga Berlin is currently being ramped up. Both the Gig factories in Berlin and Shanghai make cars for the European market.