Tesla stands alone among major automakers in year-over-year growth

Among major automotive makers, Tesla is the only company to realize year-over-year growth in vehicle deliveries from March 2021 to February 2022, nearly doubling in sales. Other companies struggled to maintain level sales this year compared to last year, with the only company seeing Kia decline less than 10 percent.

Tesla delivered 23,050 vehicles in March 2021, according to data from Truecar. The electric automaker saw a growth of 93.2 per cent in February 2022 compared to the previous March, delivering 42,742 vehicles last month. Tesla was an anomaly in this category compared to other major automakers. Every major automotive company, from BMW to Ford, to GM and Stelantis, suffered significant losses in year-over-year deliveries.

The automaker suffered the most was Volkswagen, which saw a 44.3 percent drop in automotive sales from March 2021 to February 2022. Other significant losses came from Nissan (-41.3%), Honda (-30.6%), Subaru and Ford. (-27.6%), and BMW (-23.9%).

credit: truecar

The real gains in Tesla’s sales figures can be attributed to more favorable consumer sentiment about electric vehicles over the past year, led by the company’s almost unanimous recognition as the leader in EVs. Additionally, Tesla was one of the only major automakers to combat semiconductor and chip shortages with relative ease. While the company experienced production delays last year due to parts shortages and other supply chain issues, it was widely successful in handling the issues customers were often getting to the car.

In terms of quarterly year-over-year comparisons, Tesla was one of two automakers to see positive gains from Q1 2022 compared to Q1 2021. Tesla sold 127,432 vehicles in Q1 2022, compared with only 69,300 in Q1 2021, representing an increase of 83.9 percent. , Hyundai saw a growth of 0.9 percent, delivering 176,920 vehicles in Q1 2022, with 175,352 cars in Q1 2021.

as an industry, truecar Total new vehicle industry sales are expected to reach 1,246,993 units in March 2022, a decline of 25 per cent over a year ago and an increase of 5 per cent. February 2022.

truecar Also provided additional industry insights:

  • total sales for March 2022 is expected to be down 25% from a year ago and up 5% from February 2022 When adjusted for the same number of sales days.
  • fleet sales March 2022 is expected to be down 30% from a year ago and up 31% from February 2022 When adjusted for the same number of sales days.
  • Incentive spending is down 54% from last year.
  • Average transaction price is projected to be up 15% from a year ago and down 1% February 2022,
  • Total SAAR is expected to decline 23% from 13.6 million units a year ago.
  • for sale of used vehicles March 2022 That is expected to reach 3.6 million, down 13% from a year ago and up 11% from February 2022.
  • The average interest rate on new vehicles is 4.6% and on old vehicles the average interest rate is 8%.
  • Average Loan Term for a New Vehicle March 2022 70 months and the average loan tenure on a used vehicle is around 71 months.
  • Quarterly average transaction value is projected to be up 16% from a year ago and up 3.5% from Q4 2021.
  • Quarterly stimulus spending down 51% from Q1 2021

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Tesla stands alone among major automakers in year-over-year growth






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