A top luxury auto company is threatening Tesla's dominance in the luxury electric vehicle category.
Internal combustion engine vehicles continue to lose market share to electric vehicles, a trend Wall Street analysts predict will continue as more automakers launch more new models.. Tesla wasn’t the first EV to hit the market, but was the first to capture widespread attention among mainstream buyers by focusing on performance and luxury.
However, the company’s dominance among luxury car shoppers may be near a tipping point. The latest data shows that Tesla remains – by and far – the leading EV automaker. However, it also shows a top luxury brand is chipping away at its lead.The media's attention on electric vehicles may have you thinking that EVs already represent a significant share of total vehicles sold.
Mercedes-Benz’s attention has increasingly shifted toward EVs, and its recently launched models are winning over consumers. In the third quarter, Mercedes-Benz sold 4,457 of its new electric EQE Sedans and EQE SUVs.
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