Bidness Etc looks at InsideEV’s January sales figure for Tesla Motors Inc’s Model S
Tesla Motors Inc’s electric vehicle sales surpassed the sales of Nissan Motor Co Ltd’s mass marketed EV Leaf for the second consecutive month, according to estimates provided by InsideEV. If true, these sales estimates are a milestone for the EV manufacturer, as they will reaffirm analysts’ belief that weakness observed in China will be offset by increased demand in the domestic US market.
According to InsideEV, Tesla sold 1,100 Model S in January, as compared to 1,070 Leafs sold by Nissan. The additional sales are not really significant, but it is still surprising for many that Tesla has managed to attain more sales in the US by selling a premium EV targeted at a niche segment. Model S has a starting price of $71,000, while the new dual motor-powered version of the vehicle, called P85D, has a base price of above $100,000.
Nissan Leaf is the best-selling EV around the globe. 30,200 Leafs were sold in the US alone last year, as compared to 17,300 vehicles sold by Tesla, according to estimates provided by InsideEV.
Tesla does not reveal its monthly sales figures, unlike other automakers, due to which no official estimates can be obtained. The sales numbers will only be confirmed once the quarterly earnings are released during extended trading hours on February 11. Estimates provided by hybridcars.com highlight that Model S sales were around 1,300 units last month, significantly higher than the estimate provided by InsideEV.
January marks the second consecutive month in which Model S has managed to stream in higher sales than Leaf. In December, InsideEV reported sales of 3,500 Model S, while the sales of Leaf turned in at 3,102 units.
The overall sales of plugged-in EVs were record high last year, but suffered last month largely due to the seasonal dip in winter. The sales of Nissan Leaf were down 14.5% year-over-year (YoY) last month, while the sales of General Motors Company’s Chevy Volt were down 41%.
The lower sales number could also be associated with a falling gasoline price, which is near a six-year low. Nissan Director for EV, Brendan Jones, stated: “We saw a significant increase in demand in December from customers looking to take advantage of Federal and state incentives at the end of the tax year.”
At the same time, Tesla’s lead in plugged-in EV sales is forecasted to be observed in upcoming months, as the automaker rolls out new “D” versions of Model S, including the 85D and 60D. The P85D, rolled out in late 2014, turned out to be popular with buyers due to its high performance; it can accelerate from zero to 60 mph in only 2.8 seconds.
Tesla CEO Elon Musk highlighted in his speech at the Detroit Auto Show that the company’s sales in China are suffering due to the misconception among Chinese buyers that they will face difficulties due to the range of EVs; buyers are afraid their vehicles will run out of battery before they can reach the next charging station. Following the speech, Tesla stock traded well below $200, as investors remained concerned that the automaker might not be able to live up to its sales target. However, various research firms highlighted that the weakness observed in the region will be offset by the strong sales being experienced in other regions, such as the US. The monthly sales estimate further supports that demand for Tesla EVs remains strong in the domestic US market.
Tesla Motors Inc’s electric vehicle sales surpassed the sales of Nissan Motor Co Ltd’s mass marketed EV Leaf for the second consecutive month, according to estimates provided by InsideEV. If true, these sales estimates are a milestone for the EV manufacturer, as they will reaffirm analysts’ belief that weakness observed in China will be offset by increased demand in the domestic US market.
According to InsideEV, Tesla sold 1,100 Model S in January, as compared to 1,070 Leafs sold by Nissan. The additional sales are not really significant, but it is still surprising for many that Tesla has managed to attain more sales in the US by selling a premium EV targeted at a niche segment. Model S has a starting price of $71,000, while the new dual motor-powered version of the vehicle, called P85D, has a base price of above $100,000.
Nissan Leaf is the best-selling EV around the globe. 30,200 Leafs were sold in the US alone last year, as compared to 17,300 vehicles sold by Tesla, according to estimates provided by InsideEV.
Tesla does not reveal its monthly sales figures, unlike other automakers, due to which no official estimates can be obtained. The sales numbers will only be confirmed once the quarterly earnings are released during extended trading hours on February 11. Estimates provided by hybridcars.com highlight that Model S sales were around 1,300 units last month, significantly higher than the estimate provided by InsideEV.
January marks the second consecutive month in which Model S has managed to stream in higher sales than Leaf. In December, InsideEV reported sales of 3,500 Model S, while the sales of Leaf turned in at 3,102 units.
The overall sales of plugged-in EVs were record high last year, but suffered last month largely due to the seasonal dip in winter. The sales of Nissan Leaf were down 14.5% year-over-year (YoY) last month, while the sales of General Motors Company’s Chevy Volt were down 41%.
The lower sales number could also be associated with a falling gasoline price, which is near a six-year low. Nissan Director for EV, Brendan Jones, stated: “We saw a significant increase in demand in December from customers looking to take advantage of Federal and state incentives at the end of the tax year.”
At the same time, Tesla’s lead in plugged-in EV sales is forecasted to be observed in upcoming months, as the automaker rolls out new “D” versions of Model S, including the 85D and 60D. The P85D, rolled out in late 2014, turned out to be popular with buyers due to its high performance; it can accelerate from zero to 60 mph in only 2.8 seconds.
Tesla CEO Elon Musk highlighted in his speech at the Detroit Auto Show that the company’s sales in China are suffering due to the misconception among Chinese buyers that they will face difficulties due to the range of EVs; buyers are afraid their vehicles will run out of battery before they can reach the next charging station. Following the speech, Tesla stock traded well below $200, as investors remained concerned that the automaker might not be able to live up to its sales target. However, various research firms highlighted that the weakness observed in the region will be offset by the strong sales being experienced in other regions, such as the US. The monthly sales estimate further supports that demand for Tesla EVs remains strong in the domestic US market.
