Amid a slump in share prices, Tesla Motors has released US sales details for its Model S.
The company sold 25,202 electric sedans in the US last year, representing an increase of nearly 52 percent compared to the 16,689 deliveries in 2014. The number represents a quarter of the total cumulative sales of 107,000 units in all markets since the Model S first arrived.
Tesla suggests the Model S has eroded market share held by traditional gasoline-powered luxury sedans. The increase in Model S sales is said to almost perfectly offset the decline in US deliveries for the Audi A7 and A8, BMW 6- and 7-Series, Jaguar XJ, Lexus LS, Mercedes-Benz S- and CLS-Class and Porsche Panamera.
“In the US, just over three years after entering the market, Model S took share from all incumbent manufacturers to become the number one selling comparably priced four-door sedan,” the automaker wrote in a letter to investors. “In fact, Model S was the only vehicle in its class with growing sales last year.”
Growth in all markets averaged 35 percent in the fourth quarter. Despite the gains and a drop in gasoline prices, Tesla still believes it is “substantially underpenetrated” across the globe.
“Additionally, we continue to see no perceptible impact to our order growth from the change in the price of gasoline as our order rates have continued to increase even as the price of gasoline has fallen,” the letter adds. “In fact, our customers tell us they value a Tesla vehicle more for its superior performance, technology, safety, lower environmental impact and style than for its ability to save money on fuel.”
Model S production costs are said to have dropped in Q4 as the company began building the Model X on the same line. Crossover production was slightly restrained in January, allowing certain quality issues to be resolved, however output is expected to reach 1,000 units weekly in the second quarter.
This year will bring increased investments in Gigafactory production and machinery installation to support the Model 3 range. The company also plans to open 80 new retail locations and service centers, along with 300 new Supercharger stations.
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