Tesla’s Sales in the U.S. Are Gaining on Some of the Top luxury Car Makers

Published on: 12 Oct, 2018

U.S. sales for American automotive and energy company, Tesla Inc. (NASDAQ: TSLA) are estimated at 64,727 units sold in Q3. According to analysts at Edmunds.com, its domestic sales are just under the top 3 luxury brands of Lexus, BMW, Mercedes-Benz at 78,622 units, 71,679 units, and 66,542 units respectively, but ahead of other luxury brands such as Audi and Acura at 59,447 units and 41,830 units, respectively.

“Tesla’s sales still put them ahead of the majority of luxury makes, and with available Model 3s costing at least $49,000, Tesla’s average transaction price will actually be higher than the majority of the luxury competition,” Edmunds.com analyst Jeremy Acevedo said.

The Model 3’s price is comparable to Toyota Motor Co. (NYSE: TM) Lexus’ average price USD 49,136, while BMW AG’s average price was USD 55,047. Daimler AG’s Mercedes-Benz’s average price was USD 54,833. The exact average sales price for Tesla could not be estimated because it has its own network of stores, rather than traditional dealership networks.

Registration data, modeling, and other data points contribute to the estimates by Edmunds.com analysts to calculate U.S. sales numbers for Tesla. Unlike most automakers, Tesla reports production and deliveries shortly after the end of a quarter, and it does not break down deliveries by region.

Tesla shares are currently trading at USD 255.17 per share and down 19% this year.

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Perry Boon

Email: perry@financialbuzz.com

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