Tesla is often considered the brand to beat within the electric vehicle market — but registration data for the first quarter of 2022 shows that Tesla isn’t just leading in EV sales, it’s the sole market leader in the luxury car segment. Experian’s Report, released via Automotive News, revealed that Tesla had 113,882 new vehicle registrations in the US in Q1, which represents a 59 per cent year-over-year growth.
Taking a closer look at these findings, we realize that Tesla holds an impressive 21.8 per cent of the segment, which was begun its transition to battery-powered vehicles as major brands release their roadmaps to an electrified future. With 80,482 units sold, BMW is now 33,000 units behind Tesla. Lexus came in third with 66,907 (down 17 per cent), while Mercedes-Benz came in fourth with 60,632 (down 21per cent). Audi secured the fifth spot, with 37,566 new vehicle registrations, which indicates a 37 per cent decrease year-over-year.
The Experian Report also reveals that brands are now selling more EVs and plug-in hybrid models, with Audi selling 3,252 EVs in Q1, Volvo selling 6,018 plug-ins (including 1,658 BEVs), and Mer-cedes-Benz selling 2,091 all-electric EQS models.
Unsurprisingly, most of the brands included in the reported cited supply chain challenges as a major limiting factor in the delivery of new vehicles.
