Tesla’s August U.S. sales were up 105% YOY, considerably exceeding competitors

According to TrueCar’s August sales research report, Tesla’s sales climbed by approximately 105% year on year, making it the greatest in the United States.

According to TrueCar’s August sales prediction, Tesla sold about 47,629 vehicles in the United States, representing a 105.8% year-over-year increase, the fastest of any brand, followed by General Motors (40.9%) and Daimler AG (40.9%), Müller (40%).

According to the TrueCar analysis, Tesla’s current market share is estimated at 4.1% and its retail share is 4.4%, implying that the brand’s market share is now double what it was a year ago. Furthermore, GM, Ford, and Toyota continue to be the market leaders in the United States, with GM currently controlling 16.4 percent of the market, Ford at 13.7 percent, and Toyota at 14.8 percent.

Most automakers no longer report monthly sales at this point. While the study does not expressly cover EVs or any other area, analysts believe Tesla is extending its gap with rival EV makers rather than closing it.

Some brands appear to have experienced significant losses in August. According to TrueCar, Honda’s sales decreased 41.5% this month, Nissan’s dipped 24.5%, and Toyota’s sales fell 9.4%.

In terms of the entire market, TrueCar anticipates that vehicle sales will climb by roughly 9% year on year in July of this year, and may even be somewhat higher than in July of last year. TrueCar estimates 40% year-over-year growth in volume sales, which might play a significant role. However, used automobile sales were down 17% year on year.

Surprisingly, Americans are spending more money on automobiles than ever before. According to TrueCar, the average transaction price for a new automobile is up 10% from last year but down somewhat from the prior month. Furthermore, loan terms are now longer than ever, with a new automobile loan in the United States average 70 months and a used car loan averaging 71 months.

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