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Tesla Inc (NASDAQ:TSLA) gained the most market share in the U.S. in the first quarter of 2023 despite General Motors Co (NYSE:GM) taking the sales lead.
What Happened: Tesla gained the most market share in the first quarter of 2023 in the U.S., according to new data from Cox Automotive.
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Tesla had a market share of 5.1% in the first quarter as opposed to 3.8% in the calendar year 2022, an increase of nearly 1.4%.
Nissan-Mitsubishi (OTC:NSANY) seconded Tesla, gaining 0.7% more market share in the first quarter.
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General Motors sold the most vehicles in the first quarter — 587,020 units — but gained only 0.4% market share from 2022.
Tesla, in the meantime, sold 180,993 vehicles in the first quarter, an increase of 39.5% from a year earlier.
The Elon Musk-led company has been ramping up manufacturing at its Berlin gigafactory, reducing its dependence on made-in-China vehicles for European customers.
Its Cybertruck is also the most hotly anticipated EV this year.
Rivian Automotive Inc (NASDAQ:RIVN) marked a 563.8% jump in sales, with 8,145 vehicles sold in the quarter, compared with 1,227 units sold a year earlier. Lucid Motors (NASDAQ:LCID) sales rose over 192% to 1,344 in the same period.
Read More: US-Japan Announce EV Battery Minerals Deal In Bid To Reduce Reliance On China
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.