Tesla’s sales during the first quarter of 2022 accounted for almost 60 percent of all electric vehicles (EVs) sold globally from the top 10 leading carmakers. The company has shown its resilience in the electric vehicle market by sustaining the number of deliveries during a period when the general market has been affected by parts shortage and challenging economic conditions.
However, the American electric vehicle giant is also facing significant competition from traditional manufacturers who are venturing into the electric car market as part of holding their market position.
Data acquired and calculated by Finbold indicates that among leading electric vehicle manufacturers, Tesla delivered 310,048 vehicles for all models during the first quarter (Q1) of 2022. With the deliveries, Tesla accounted for 57 percent of the 539,863 all-electric vehicles delivered by the top 10 leading carmakers.
Volkswagen ranked second with 99,100 deliveries, followed by BMW at 35,289 units. China’s Xpeng ranked fourth with 34,561 units, while Li Auto closed the top five with 31,716 units. Other manufacturers with significant deliveries included Nio (25,768), Rivian (2,553), General Motors(457), Lucid Motors (360) and Nikola (11).
This is an impressive performance by the market leader considering the global impact of the semiconductor shortage, which has also affected Tesla. With this, the company has been forced to adjust its goal to introduce more models but remains on course to increase sales.
The Finbold research report said: “Despite the record deliveries, Tesla remains uncertain about the future, with CEO Elon Musk noting that the chip shortage might bar the company from introducing new models in 2022. However, the Q1 results offer a glimpse of the company’s projected to grow annual deliveries by 50 percent.”
Tesla is banking on ramping up production through new factories alongside market demand for its products. The growing demand for electric vehicles is being fuelled by many factors including the soaring fuel prices and the entrance of more manufacturers into the electric vehicle space.