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Harding and Company – Tesla September Delivery Data Puts it Top of the EV Sales Market in the US
Tesla is utterly dominating EVs sales historically and crushed rivals in September, as erstwhile green car darling Toyota has faded to an also-ran.
By: Harding and Company
Of those, a total of 22,250 were Model 3s. And that outsized sales number is allowing Tesla to break away from the pack.
A distant second in September was General Motors with 3,689 unit sales (also an estimate).
Toyota -- the onetime leader of the green car movement was third, posting 2,213 EV sales (Prius Prime).
Nissan sold 1,563 Leaf EVs in September, which was actually an uptick in sales.
Looking closer at GM's numbers, the early EV pioneer is also losing ground to Tesla. Chevy Bolt EV sales in September, at 1,549 -- albeit a decent showing for the Bolt -- were a fraction of Model 3 sales. And the Bolt (a pure EV) continued to trail GM's other plug-in, the Chevy Volt (a plug-in hybrid) which posted sales of 2,129 in September. The Volt has been consistently outselling the Bolt since March of this year.
The slide in Bolt sales is due to a shift in allocation to Canada and South Korea and consequently low stocks in the U.S., a GM spokesperson told CNBC this past week. In the third quarter, Bolt sales were down 41 percent compared to the same time last year.
• Tesla – 29,975
• General Motors – 3,689
• Toyota – 2,213
• Honda – 2,200
• BMW Group – 1,858
• Nissan – 1,563
Anecdotal buyer reports indicate that Tesla is delivering lots of Model 3s and, in some cases, Tesla delivery centers have been mobbed by buyers picking up their cars in the past several weeks.
Cumulative EV sales top one million in the U.S. -- Tesla leads with 274,000
Tesla tops in all-time EV sales at 273,773 with GM posting a strong 193,430 EVs sold, InsideEVs said, citing EV sales that have surpassed one million in the U.S. for the first time.
Nissan was third at 125,513 and Ford fourth with 110,130.
EV sales began in earnest in late 2010 and early 2011 when the Chevy Volt and Nissan Leaf went on sale.
Tesla has had a wild ride over the past few months and what we see at Harding and Company is an opportunity to access the stock at a significant discount to where it has been trading prior to the Twitter issues which have now been resolved.
H&C's STRONG BUY rating is still in effect and we believe that the EV car manufacturer will continue to hit targets over the course of the rest of 2018.
To find out how you can get involved in opportunities in the markets, contact an advisor today at email@example.com or visit www.handcadvisors.com to see how you can benefit from an independent advisory service that is 100% committed to your financial security, strategy and wealth management.
Harding and Company