- EV sales surged 74% in 2018 to a total 1.26M around the world. Atop the list was Tesla’s Model 3
EV sales surged 74% in 2018 to a total 1.26M around the world. Atop the list was Tesla’s Model 3 with 138,000 cars. At number 2, with 92,000 units, was BAIC EC, the Chinese manufacturer.
Tesla’s Model 3 outsold its nearest competitor by about 50% in its first full year on the market.
Even with pressure on their financials, Tesla seems to be dominating the EV market with two models in the top 5. This 2018 data comes around the same time as Elon Musk projected the company to sell 500,000 vehicles in 2019. Tesla is also planning to shut down retail locations as a cost cutting measure to focus funds on bringing their cheaper $35,000 model into the market.
Article by: Mick Ross
Mick is currently a full-time investor and formerly a buy-side analyst (2yrs) covering healthcare companies. Before that, he was a salesperson at a bulge-bracket firm, based in Dallas, Texas. Mick blogs to clarify and synthesize his investment thought process and to elicit feedback; additionally he likes to connect with other investors and swap ideas.