Tesla Model S Giving Tough Ride To Premium Car Makers

Tesla Model S Giving Tough Ride To Premium Car Makers
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Tesla cars, as we all know, are the most popular electric vehicles currently; their popularity is not just limited to their segment, but rather, they are giving a tough time toluxury car makers also. Though Mercedes still dominates America’s luxury car market, the Model S is catching up fast.

A popular name in the luxury car market

Since Tesla does not reveal its sales figure country-wise, many analysts have used a variety of methods to come up with Tesla’s U.S. sales number. According to EV Obsession, Tesla sold 26,566 units of the Model S in the U.S. last year, while the lowest sales estimate is 24,200 units. Based on this figure, it can be concluded that the Model S was better than popular names like the BMW 7-Series, the Porsche Panamera, BMW’s 6-Series, Audi’s A7 and A8, the Mercedes S-Class, and every other car in its rank.

In addition, the Model S was the only car to see a growth in sales, while all other car makers witnessed a drop in their premium car sales. The trend clearly suggests that consumers are more likely to go with an EV option when compared to gas-consuming peers.

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Tesla Model 3 coming soon

Electric cars are surely growing in popularity, and every luxury car maker is either in the process of or planning to make a pure electric car. However, the success of the electric car market will be based on the success of the mainstream market and not the premium class. Tesla knows this very well, and therefore is working on its goal of rolling out a mass-market car – the Model 3.

Tesla is expected unveil the car in March and start deliveries by 2017. The latest reports hint that the EV firm could showcase the car at the Geneva Motor Show, which is scheduled for March 3-13. However, appearing at major auto shows is not what Tesla is known for, but if it does, it will be a positive sign for electric vehicle fans.

On Friday, Tesla shares closed up 1.29% at $202.55. Year to date, the stock is down by almost 16%, while in the last year, it is up by only 1%.

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