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At Tesla’s annual shareholder meeting in October 2021, Tesla Board Chairman Robyn Denholm said, “by 2030, we aim to sell 20 million electric vehicles per year.” That statement is not taken seriously by many media outlets, especially when comparing that goal with reality: by 2021, Tesla will ship more than 930,000 vehicles worldwide. That means in just nine years, the company will need to double its sales by a factor of 20.
There may not be a consensus among analysts on this ambitious goal, although much could happen in nine years. However, many of those analysts would strongly agree that Elon Musk’s statement about the Model Y becoming a global best-seller in 2023 is quite feasible.
Over 1.6 Million Units By The End of 2022
The latest sales data from the first quarter of 2022 underscores the strong growth Tesla is experiencing worldwide. Preliminary results published by the company show that it delivered a new quarterly record of 310,000 units, up 68 percent compared to Q1 2021 and 250 percent compared to Q1 2020.
Volume increased only 0.5 percent compared to Q4 2021, when Tesla shipped nearly 309,000 units. However, the first quarter every The year since 2018 – the year the Model 3 came to market – has been soft for Tesla, with sales declining. Thus, based on data from previous years, the EV automaker is expected to ship between 1.6 and 1.8 million vehicles by the end of 2022. That would take Tesla to the same level as Audi, which shipped 1.68 million cars in 2021. .
Model Y, Protagonist In Q1 2022
There are many reasons to support Tesla’s optimism. Among them include the Model Y, the brand’s latest offering that posted strong results. This midsize crossover performed very well in the model sales rankings in many countries during the first quarter of this year.
For example, it was the top seller in Norway, the second best-selling vehicle in Austria, and number five in Denmark and Sweden. In larger markets, the Model Y also posted excellent results. For example, it is the sixth most popular new car in the UK, and the 14th in the United States. Focusing solely on March, it led the model rankings in Austria, Denmark, the UK, Luxembourg, and Norway, and was in the top 10 in Switzerland, Sweden, and Finland.
In China, the world’s largest auto market, the Model Y was 13th through January and February amid significant electric competition. Focusing on February alone, the Model Y is in China’s top ten.
The Model Y began production at Tesla’s plant in Fremont, California in January 2020, with deliveries starting on March 13 of that year. In just 24 months, it has become one of the best-selling cars in many of the world’s most important auto markets. Meanwhile, the Model 3 was among the best-selling cars in Canada, Switzerland, Germany, France, UK, Norway, New Zealand and the US during the first quarter of 2022.
These results, combined with rising fuel prices, government incentives for EVs, and increasing buyer interest in going electric, Tesla has perfect conditions for meeting its executives’ goals. That is, at least in the short term.
The article’s author, Felipe Munoz, is an industry specialist at JATO dynamics.
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