Tesla posts strong sales numbers in May 2019
By Nicholas Yekikian
Yesterday Elon Musk took to the stage during Tesla’s annual shareholder meeting and assured the companies investors that, “there is not a demand problem” for Tesla. Questions have always been raised of how many battery electric vehicles the company could sell, but the numbers for May 2019 are in and they’re looking pretty good despite the declines the company saw in Q4 of 2018.
According to a report by InsideEVs, In May of 2019, Tesla sales accounted for 58% of all plug-ins and 77% of all BEV sales in the United States. The BEV giant sold 16,350 cars in the United States in May of this year, and according to the site, that’s 82% more cars sold than in 2018.
The Model 3 is the best-selling midsize sedan in the country, outpacing the Mercedes-Benz C-class and the BMW 3-Series. According to BMWBlog, BMW sold 4,300 3-Series sedans in May, meaning the Model 3 nearly tripled BMWs sales. It should be noted that in May of 2018 BMW sold more than 6,000 3-Series cars, but the rollout of the new G20 sedan might explain the slight dip in sales.
InsideEVs also reported that, on the whole, 4,000 more EVs were sold in May of 2019 when compared to the previous year. The fact that Tesla’s market share was so large is good news for the company, whose investors have recently turned from staunch backers to bearish and expectant, the New York Times reports.
According to The Times, Tesla’s stock was at a three year low at the start of last week and T. Rowe Price – one of the biggest shareholders at Tesla – sold 80% of its shares in the company. In a leaked, staff-wide email from last week, Musk told his company that they have a real shot of hitting 90,000 deliveries in Q1 of 2019, but most experts say that number will be closer to 70,000-80,000.
Demand for the once-ubiquitous Model S and trendy Model X are both on the decline, but the baby of the group, the Model 3, is seeing a lot of love from consumers. The demand for the Model 3 more than doubled in May of 2019 when compared to 2018.
Here are the full numbers according to InsideEVs:
Tesla Model 3 – 13,950 (up 133%, 46,425 YTD, up 159%)
Tesla Model X – 1,375 (down 5%, 6,275 YTD, down 10%)
Tesla Model S – 1,025 (down 33%, 5,475 YTD, down 32%)
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