Tesla does not release sales results by automotive market, but all other automakers do. New luxury vehicle registrations can give us an idea of sales figures.
Although we’re unclear if new luxury vehicle registrations mean a new registration, which could hint at preowned models changing hands, or new vehicles being registered. Either way, Tesla topped the charts slamming the closest competition with a 41 percent increase in registrations compared to new registrations during 2021. This increase is an incredible number, making Tesla the top brand in the luxury market.
How do the numbers shake out
Tesla had 484,351 new vehicles registered in 2022. This number is a huge increase over the previous luxury vehicle champion, BMW. For 2022, BMW reported 327,929 new registrations, which was a 5.3 percent decrease compared to 2021. Mercedes-Benz continued with 269,511 new registrations, which was almost exactly the same figure as we saw for 2021. The two German legacy brands are typically the first names we think of in the luxury vehicle world, but now they have to move over to make room for the American electric automaker that has shaken up the entire automotive world.
Is Tesla actually a luxury brand?
Although the figures play out in Tesla’s favor, some might not actually think of the brand as a luxury automaker. Sure, the Model S is an incredible sedan with amazing luxury features and top-end technology, but does the rest of the lineup fit in? Considering the base model of the Tesla Model 3 begins at $44,630, this is certainly a luxury brand. The Model X crossover starts much higher at $111,630, which is pretty high in the luxury automotive market. The prices, performance capabilities, and advanced software combine to make Tesla a luxury brand.
How impactful is Tesla in this area of the automotive market?
When we look at the new luxury vehicle registrations in the United States, there are 15 brands. All told, these brands combined to show a 3.5 percent drop in new registrations last year, bringing the total to 2.18 million. If we take Tesla out of the mix, the drop across the remaining 14 brands would be an 11 percent decline. Considering the two brands just below Tesla on the list either declined in figures or stayed the same, it’s pretty easy to see the impact Tesla has on the entire luxury auto market.
Tesla topped the charts with nothing but EVs
Most of us are used to Tesla being part of the automotive market now. Because of this, it’s no longer the new kid in the sandbox. That said, Tesla has never sold any vehicles with gasoline engines. The rivals in the luxury segment rely heavily on gasoline engine models, with very few models that are pure EVs. It should come as no surprise that Tesla continues to be a segment leader in the world of electric vehicles.
The new luxury vehicle registration numbers from Tesla are 100 percent EVs, which puts Tesla extremely far ahead of other EVs. BMW’s new EV registrations totaled 14,159, and Mercedes-Benz’s totaled 11,444. Mercedes-Benz is working toward a completely altered lineup that will only offer electric vehicles, but this might not be a reality until the end of the decade.
What about other luxury brands
So far, we’ve only talked about Tesla, BMW, and Mercedes-Benz. The fourth-place brand for new registrations last year was Lexus. This brand enjoyed 260,668 new registrations, which represents a 16 percent drop. Next on the list is Audi, which had 184,279 new luxury vehicle registrations which is a decrease of 8.7 percent. For Audi, the EV registrations totaled 16,186 models, and Lexus does not have an EV in its lineup yet.
Continuing down the list of luxury brands, Cadillac reported 133,521 new registrations, which was a 6.5 percent increase, and 157 EVs, which were all the new Cadillac Lyriq SUV. Acura came in seventh with 101,345 new luxury vehicle registrations. This number shows a 36 percent decrease for Acura, which doesn’t have any EVs in its lineup. Volvo came in eighth with 97,744 new registrations, which represents a 21 percent decline. Registered Volvo EV numbers totaled 6,917 in 2022.
Lincoln hit the ninth spot with 81,813 new registrations, none of them being EVs. This total gives Lincoln a 10 percent decline compared to 2021. Porsche rounds out the top ten with 64,610 registrations showing a 5.4 percent decline. The Porsche Taycan is the only EV in the lineup, and 6,803 models of the Taycan were newly registered last year.
The bottom five brands in the luxury category are Land Rover, Genesis, Infiniti, Alfa Romeo, and Jaguar. Certainly, some of these names are understandably in the bottom portion of the luxury vehicle market, but Genesis should be on the rise in the United States.
Will Tesla have the first luxury-only pickup truck?
The next vehicle expected from Tesla is the new Cybertruck. If this brand is comprised of only luxury vehicles, this could be the first luxury-only pickup truck in the market. Certainly, some of the other trucks reach luxury levels of pricing, packaging, and performance, but all start out in the mainstream market. The new Cybertruck could be the first and only luxury truck that doesn’t offer a mainstream counterpart. If the Cybertruck hit the market at the stated $40,000 price, Tesla could easily hold onto its crown with the highest number of new luxury vehicle registrations.
Will some legacy brands blow past Tesla with the development of new EVs?
Mercedes-Benz, Cadillac, and Lexus are all focused on a complete shift in their vehicle offerings. These three brands will offer only electric vehicles by the end of the decade. Of course, that gives Tesla seven more years of EV dominance to stand head and shoulders above these legacy names. Tesla already has the highest number of new luxury vehicle registrations regardless of vehicle type; it would be difficult to see a world in which Tesla loses its lead in new registrations.
As more EVs enter the market with the current gas-powered models, could BMW or Mercedes-Benz find the mix to regain a lead over Tesla? We’ll have to wait and see.
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