Tesla has become the top luxury brand in the US automotive market – the first time an American automaker claims the title.
For a few years now, Tesla vehicles have dominated many luxury segments in sales in the United States.
However, due to the limited number of models available, four to be exact, other automakers could still be top sellers overs – meaning that Tesla models are often best-selling in their own segments, but Tesla as an overall brand is not.
Foreign automakers, especially German automakers like Audi, Mercedes-Benz, and BMW, have historically been dominant.
But with recent increases in production capacity, Tesla is now delivering more volume in the United States even with just four models.
Now Tesla has taken the top luxury automotive position for the first time in the United States and, according to Automotive News, it’s the first time in almost 25 years that the position has been held by an American automaker.
Tesla doesn’t break down sales per market, and therefore, we have to use registration data and estimates.
The data is not perfect, but everything points to a massive beat by Tesla in 2022.
Here are the top eight best-selling luxury brands in the United States in 2022:
Tesla: 491,000
BMW: 332,388
Mercedes-Benz: 286,764
Lexus: 258,704
Audi: 186,875
Cadillac: 134,726
Acura: 102,306
Volvo: 102,038
In 2021, BMW had beaten Tesla by about 23,000 units based on estimates.
Now it appears that Tesla is the leader by easily 100,000 vehicles, thanks a significant production ramp last year.
Electrek’s Take
It’s good to see an all-electric automaker taking the position for the first time. It’s also special that it’s an American automaker for the first time in a quarter of a century in the US market.
Interestingly, I often meet people who don’t even realize that Tesla is an American automaker, even though it’s arguably the most American automaker based on the percentage of American parts in Tesla’s vehicles.
Now, of course, that’s just the luxury segment, but I think the days where the top overall automakers are all-electric ones are coming sooner than most people think.
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After canceling the upcoming Airflow electric crossover and killing its popular 300 sedan, Chrysler only has one nameplate left in its lineup – but it doesn’t have to be this way. Stellantis already builds a full-size electric sedan that could prove to be a badge-engineered winner.
And, yes – it really should have been the new Chrysler 300. Meet the DS No. 8.
Stellantis’ US brands have had a tough go of the last few years, with Jeep trying and failing to bait luxury buyers willing to part with six-figure sums for a new Grand Wagoneer orgenerate excitement for the new electric Wagoneer S. The Dodge brand is doing to better with the Charger, a confusing electric muscle car that has, so far, failed to appeal to enthusiasts of any kind. Meanwhile, the lone Chrysler left standing, the Pacifica minivan, made its debut back in 2016. Nearly ten long model years ago.
Spec-wise, the DS meets the bill, as well. With a 92.7 kWh battery and the standard 230 hp electric motors on board, the electric crossover is good for 750 km (466 miles) of range on the WLTP cycle. With the same battery and a 350 hp dual-motor setup that sacrifices about 40 miles of range for a more sure-footed AWD layout and a 5.4 second 0-60 time that compares nicely to the outgoing Chrysler 300 V8.
The DS offers reasonably rapid 150 kW charging, too, enabling a 10-80% charge (over 300 miles of additional driving range) in less than thirty minutes.
Why it would work
DS Automobiles No. 8; via Stellantis.
Think of all the reasons the Wagoneer S and Charger Daytona EVs have failed to reach an audience. From the confusing Wagoneer “sub-branding” to the fact that no one was really asking for either an eco-conscious muscle car or a loud EV. On the flip side of that, the 300 is something different.
With the DS No. 8, Chrysler could do it again. It could revive its classic American nameplate on a European-designed platform that wasn’t designed to be a Chrysler, doesn’t look like a Chrysler, and shouldn’t work as a Chrysler, but somehow does. The fact that it could also be the brand’s first successful electric offering in the US would just be a bonus.
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Powered by tech giant Huawei 5G-Advanced network, a fleet of over 100 Huaneng Ruichi all-electric autonomous haul trucks and heavy equipment assets have been deployed at the Yimin open-pit mine in Inner Mongolia.
With more than 100 units on site, China’s state-backed Huaneng Group officially deployed the world’s largest fleet of unmanned electric mining trucks at the Yimin coal plant in Inner Mongolia this past week. The autonomous trucks use the same Huawei Commercial Vehicle Autonomous Driving Cloud Service (CVADCS) powered by the ame 5G-Advanced (5G-A) network that powers its self-driving car efforts. Huawei says it’s the key to enabling the Yimin mine’s large-scale vehicle-cloud-network synergy.
Huawei is calling the achievement a “world’s first,” saying the new system has improved operator safety at Yimin while setting new benchmarks for AI and autonomous mining.
For their part, Huaneng Ruichi claims its cabin-less electric offer an industry-leading 90 metric ton rating (that’s about 100 imperial tons) and the ability operate continually in extreme cold temperatures as low as -40° (it’s the same, C or F), while delivering 20% more operational efficiency than a human-driven truck.
The Huawei-issued press release is a bit light on truck specs, but similar 90 tonne electric units claim 350 or 422 kWh LFP battery packs and up to 565 hp from their electric drive motors and some 2,300 Nm (1,700 lb-ft) of tq from 0 rpm.
Huawei executives said the Ruichi trucks reflect the company’s vision for smarter mining operations, with the potential to introduce similar technologies in markets like Africa and Latin America. The 100 asset electric fleet marks the first phase of a plan to deploy 300 autonomous trucks at the Yimin mine by 2028.
Electrek’s Take
Electric haul trucks; via Huawei.
From drilling and rigging to heavy haul solutions, companies like Huaneng Group are proving that electric equipment is more than up to the task of moving dirt and pulling stuff out of the ground. At the same time, rising demand for nickel, lithium, and phosphates combined with the natural benefits of electrification are driving the adoption of electric mining machines while a persistent operator shortage is boosting demand for autonomous tech in those machines.
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Tesla has started accepting Cybertruck trade-ins, something that wasn’t the case more than a year after deliveries of the electric pickup truck started.
We are starting to see why Tesla didn’t accept its own vehicle as a trade-in: the depreciation is insane.
The Cybertruck has been a commercial flop.
When Tesla started production and deliveries in late 2023, the vehicle was significantly more expensive and had less performance than initially announced.
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At one point, Tesla boasted having over 1 million reservations for the electric pickup truck, but only about 40,000 people ended up converting their reservations into orders.
Tesla didn’t share an explanation at the time, but we assumed that the automaker knew the Cybertruck was depreciating at an incredible rate and didn’t want to be stuck with more trucks than it was already dealing with.
Now, Tesla has started taking Cybertruck trade-ins, at least for the Foundation Series, and it is now providing estimates to Cybertruck owners (via Cybertruck Owners Club):
Tesla sold a brand-new 2024 Cybertruck AWD Foundation Series for $100,000. Now, with only 6,000 miles on the odometer, Tesla is offering $65,400 for it – 34.6% depreciation in just a year.
Pickup trucks generally lose about 20% of their value after a year and 34% after about 3-4 years.
It’s also wroth nothing that Tesla’s online “trade-in estimates” are often higher than the final offer as noted in the footnote o fhte screenshot above.
Electrek’s Take
This is already extremely high depreciation, but Tesla is actually trying to save face with estimates like this one.
As Tesla wouldn’t even accept Cybertruck trade-ins, used car dealers also slowed down their purchases as they also didn’t want to be caught with the trucks sitting on their lots for too long.
On Car Guru, the Cybertruck’s depreciation is actually closer to 45% after a year and that’s more representative of the offers owners should expect from dealers.
That’s entirely Tesla’s fault. The company created no scarcity with the Foundation Series. They built as many as people wanted. In fact, they built too many and ended having to “buff out” the Foundation Series badges on some units to sell them as regular Cybertrucks and as of last month, Tesla still had some Cybertruck Foundations Series in inventory – meaning they have been sitting around for up to 6 months.
Now, Tesla is stuck with thousands of Cybertrucks, early owners are already getting rid of their vehicles at an impressive rate, and the automaker had to slow production to a crawl.
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