Tesla: Model 3 bagged 52% market share in ‘mid-sized premium sedan’ segment in July 2018

Tesla: Model 3 bagged 52% market share in ‘mid-sized premium sedan’ segment in July 2018

US electric vehicle manufacturer Tesla Motors has released its earnings report for the second quarter of 2018. A graph inside the report shows that the market share of Tesla Model 3 in the ‘mid-sized premium sedan’ segment reached a noteworthy 52% in July 2018.

According to the claims put forth by Tesla in its latest earnings report, Tesla Model 3 has become the best-selling premium mid-sized sedan in the US as of July. In addition, Tesla has also claimed that the Model 3 is also presently outselling all other vehicles in mid-sized sedan segment combined.

Tesla has massive demand and pending orders for Model 3. As the electric vehicle is in affordable range, the company received tremendous response for the vehicle. As Tesla Motors has already started improving its production numbers for Model 3, the EV will continue to lead sales numbers in the U.S. market in the coming quarters as well.

With Tesla’s analysis with regard to Model 3 sales being limited only to the US at present, the automaker considers the ‘mid-sized premium sedan’ segment to include the following vehicles: the BMW 3-series, Mercedes C-class, Audi A4, Jaguar XE, and Lexus IS.

Going by the quarterly results released by Tesla, the demand for the Model 3 appears to be fairly strong, even though the Model 3 units currently being shipped by the automaker are the Long Range, Premium interior versions which have a base price of $49,000.

Meanwhile, along with disclosing impressive Model 3 sales figures in its latest earnings report, Tesla has also revealed that the Toyota Prius, BMW 3-Series, Honda Accord and Civic, and Nissan Leaf are the top five non-Tesla vehicles which the company has received as trade-ins on the Model 3.