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While Tesla Inc ‘s TSLA sales in the U.S. have been dropping since the start of the year , South Korean automaker Hyundai Motor HYMTF and Japanese player Toyota Motor Corp TM have been gaining ground in the country.
Tesla Sales Drop: Tesla sales in the U.S. fell by nearly 10% since the start of the year and through the end of the second quarter, according to Kelley Blue Book estimates.
Tesla does not segment its deliveries geography-wise, leaving third-party data as the sole means of tracking their sales in the country. As per the data, Tesla sold 304,451 units in the first half of the year as opposed to 336,892 vehicles in the corresponding period of last year. While the sales drop was experienced across Tesla’s lineup, Model 3 sales took the largest hit.
The company sold only 73,552 Model 3 sedans in the first half of this year as opposed to 112,791 units in the first half of 2023, likely due to the production ramp of the updated Model 3 at the company’s Fremont factory. Tesla introduced the updated version of the Model 3 in the U.S.
market in January. Foreign Players Sell More EVs: But despite the American EV giant dropping in sales, foreign players have gained ground. Toyota sold 9,468 EVs in the period, marking a jump of 159% year-on-year.
Toyota’s luxury brand Lexus, meanwhile, saw EV sales jump about 405% to 5,639 units, owing to the rise in popularity of its Lexus RZ electric SUV. South Korea’s Hyundai too is rising in popularity in the.