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Tesla’s sales in the U.S. are gaining on BMW and other luxury car makers

(Source: marketwatch.com)

Tesla Inc. domestic sales are closing in on U.S. sales of storied luxury trio Lexus, BMW and Mercedes-Benz, and have zoomed past U.S. sales for Audi and Acura, among other car brands.

That’s according to an analysis by Edmunds.com, which estimated Tesla

TSLA, +2.35%

 U.S. sales to have reached 64,727 in the third quarter, just shy of Mercedes-Benz’s 66,542 for the quarter.

“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.

Toyota Motor Co.

7203, +0.17%

 Lexus’ average price was $49,136, while BMW AG’s

BMW, +1.12%

 average price was $55,047. Daimler AG’s

DAI, +1.59%

 Mercedes-Benz’s average price clocked in at $$54,833.

Since Tesla uses its own network of stores, rather than traditional dealership networks, Edmunds could not estimate an average sales price for the company.

As Tesla continues to ramp up production in the fourth quarter, “we can expect the brand to continue to gain ground on the luxury leaders,” Acevedo said.

Unlike most auto makers, Tesla reports production and deliveries, its proxy for sales, shortly after the end of a quarter, and it does not break down deliveries by region. The U.S. sales numbers for Tesla are estimates by Edmunds.com analysts, gleaned through registration data, modeling, and other data points.

Here’s a more complete third-quarter U.S. sales comparison between makers:

Car maker Third-quarter Sales Lexus 78,622 BMW 71,679 Mercedes-Benz 66,542 Tesla* 64,727 Audi 59,447 Acura 41,830 Cadillac 37,291 INFINITI 33,079 Volvo 26,307 Lincoln 25,011 Land Rover 20,354 Porsche 13,205 Jaguar 6,389 Genesis 1,647

*Tesla U.S. sales are estimates

Tesla earlier this month reported its third-quarter deliveries in the U.S. and elsewhere totaled 83,500 vehicles, of which 55,840 were Model 3s, 14,470 were Model Ss and 13,190 were Model Xs.

Related: T. Rowe Price raises Tesla stake

It produced 53,239 Model 3 vehicles in the quarter, in line with its guidance and almost double the volume of the second quarter. Tesla produced 26,903 Model S luxury sedans and Model X luxury SUVs, which was slightly higher than the second quarter and also in line with the company’s guidance.

See also: Elon Musk’s settlement still on track despite tweet mocking the SEC

Tesla shares have lost 19% this year, compared with gains of 2.1% or the S&P 500

SPX, +1.54%

 and 1.4% for the Dow Jones Industrial Average.

DJIA, +1.46%


More Info: marketwatch.com

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