Tesla has once again showcased its dominance in the electric vehicle (EV) market. The latest data reveals that the company has been reaching notable achievements in multiple international car markets.

The slowing pace could be attributed to other Car brands catching up to Tesla

In the United States and Canada, Tesla’s market share has climbed to a notable four percent. This is a good leap from their 3.5 percent market share just a year prior. However, it’s worth noting that the speed of this growth has shown signs of deceleration. This slowing pace is likely due to the overall automotive market’s resurgence, which has been exhibiting a year-over-year growth trend.

While the U.S. remains a key market for Tesla, with sales figures reflecting an approximate 46 percent increase compared to the previous year, the company is not putting all its eggs in one basket. Their expansion in Europe is noteworthy, even though the latest quarterly report is silent about their European progress. It was observed a few months ago that Tesla’s European market share was on a swift upward trajectory, even surpassing its North American growth rate.

China, a mammoth automotive market, presents a different story for Tesla. The company’s market share in the region is still hovering around the two percent mark. However, the upcoming launch of the upgraded Tesla Model 3 Highland might be the catalyst the company needs to boost its presence in China.

The past three months haven’t been a breeze for Tesla. They undertook significant production line upgrades across various factories, which unfortunately led to a dip in their production output. Despite these challenges, Tesla managed to deliver a commendable 435,059 electric cars, marking a 27 percent increase from the previous year. With the launch of the Cybertruck later this year (hopefully), Tesla’s numbers are expected to see even a bigger bump from last year. Only time will tell how Tesla channels all this growth.

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