Tesla Inc TSLA gained the most market share in the U.S. in the first quarter of 2023 despite General Motors Co 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.
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 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 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 LCID sales rose over 192% to 1,344 in the same period.
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