The first quarter of 2023 proved to be a strong one for Tesla, and its market share soared. Sales have definitely increased over the past few months as more car shoppers have switched to driving electric vehicles, ultimately choosing Tesla as their car of choice. The brand is becoming more recognizable on roads, and they have something to be extremely proud of—it has been reported that Tesla has made an impressive jump in market share as it finally manages to crack the top 10.

Tesla is in the top 10 for total market share so far in the current year

According to the website Tridens Technology, the outlook has been a positive one for the automaker. Offering the longest range of any EV on the market, sales are consistently rising, due mainly to product architect Elon Musk’s decision to lower prices in order to keep up with the competition.

Their market share is rising also in part to consistently increasing sales volume. It has been reported that in 2023, the automaker is expected to further increase production and sales.

Tesla has managed to make a jump in market share and entered the top 10 for the first quarter of 2023. The company is a leader in sales of electric vehicles, and this trend is expected to continue.

So, after jumping an impressive three positions in market share rank, who trails behind the automaker? They are currently beating out popular automakers including GMC, BMW, and Mercedes-Benz.

Tesla has ranked lower in previous years

Rising to ninth place in total market share is quite an accomplishment for the company, especially since in previous years it has ranked 14th and then 12th. As everyone knows, Tesla makes only electric vehicles while other companies offer car shoppers the choice between an EV and traditionally powered gasoline cars.

It is quite impressive for the automaker to be in with legacy car makers, such as Ford, who also count sales from its pro/commercial vehicles. In fact, Counterpoint Research reports that Q1 2023 saw a record number of deliveries for Tesla, as their sales jumped a whopping 36% year over year. 

Tesla is extremely close to the eighth spot

Electric car enthusiasts would love to see Tesla’s market share climb even higher, and it is definitely a possibility. They aren’t too far behind Jeep, who currently has a 4.3% share, and if Tesla manages to surpass this, they would be bumped up into the eighth spot.

Electric vehicles continue to rise in popularity, with more car shoppers leaning toward purchasing this type of car. In 2022, EV ownership rose over 50%, and for other car companies that produce EVs and gasoline powered cars, production is not currently keeping up with demand.

This is great news for Tesla, since legacy automakers cannot come close to their 65% share of the EV market. The automaker sells more electric vehicles than any other, and the numbers clearly show that other automakers are finding it tough to compete with Tesla, which may be an indication that they will soon break into an even higher spot.