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Tesla August U.S. sales up 105% year-on-year, far outpacing other companies

  • joy
  • 2022-09-04 18:30:51
  • 320 read
TrueCar’s August sales analysis report showed that Tesla’s sales increased by about 105% year-on-year, making it...

TrueCar’s August sales analysis report showed that Tesla’s sales increased by about 105% year-on-year, making it the best in the United States.

  According to TrueCar's August sales forecast, Tesla sold approximately 47,629 vehicles in the U.S., up 105.8% year over year, the fastest growth of any brand, followed by General Motors (40.9%) and Daim ler (40.0%).

  Tesla’s current market share is estimated at 4.1% and retail share is 4.4%, which means the brand’s market share is double the 2.3% in the same period last year, TrueCar analysis noted. Additionally, GM, Ford and Toyota remain the U.S. market leaders, with GM currently holding 16.4 percent of the market, Ford at 13.7 percent, and Toyota at 14.8 percent.

  At this stage, most automakers no longer report their monthly sales. While the report doesn't specifically address EVs or any other segment, analysts say Tesla may be widening the gap with other EV makers rather than being tied.

  some brands appear to have suffered serious losses in August. TrueCar estimates Honda's sales fell 41.5% this month, Nissan 24.5% and Toyota 9.4%.

  Looking at the overall market, TrueCar expects vehicle sales to increase by about 9% year-on-year in July this year, and may even be up slightly from July this year. Volume sales could be a big factor, with TrueCar estimating 40% year-over-year growth. But used car sales were down 17% from a year earlier.

  More interestingly, Americans are spending more than ever on cars. TrueCar estimates that the average transaction price for a new car is up 10 percent from last year, but down slightly from the previous month. Also, loan tenures are longer than ever, with the U.S. now averaging 70 months for a new car loan and 71 months for a used car.


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