Tesla Overtakes BMW To Become Top-Selling Luxury Brand In 2022

Tesla hits a huge milestone in North America.

Move out BMW, Tesla’s taken top honors for luxury vehicle sales. For 2022, Tesla finally bested BMW, becoming the top-selling luxury brand. Tesla managed to move a whopping 491,000 vehicles ( according to Automotive News’s estimates), besting BMW by more than 158,000 cars. Mercedes-Benz placed third. Tesla claims to have moved more than 1 million cars, worldwide.

That’s no mean feat, Tesla only sells EVs and only four models at that. The success of Tesla in the luxury space proves that consumers, and luxury consumers, are very interested in EVs; Tesla now controls 22% of the luxury vehicle market. By comparison, BMW only holds 15% of the same market.

Although admirable, it is unclear what 2023 will hold for the brand. Every year, more manufacturers announce plans for full electrification and introduce new models. Tesla’s model lineup is fundamentally old, and no one is sure if full refreshes or replacements are on the horizon. Meanwhile, GM, Ford, BMW, Mercedes, and many other OEMs are readying new models. Even in China, Tesla has started to show signs of struggle as price cuts and reduced demand in the face of stiffer local competition. Globally, Chinese automaker BYD actually bested Tesla, selling 1.8 million PHEV and EV vehicles.

Still, the theoretical Tesla Model 3 refresh is supposed to debut this year, and there are rumors the brand is developing a smaller and cheaper model to slot under the Model 3. Also, rental car fleets, rideshare fleets, and more are increasingly switching to full electric offerings, meaning the demand for EVs will only continue to grow.

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