Moody’s report shows how crucial U.S. Market is to Tesla’s success

Tesla Motors has received tremendous response for its electric vehicles despite their high price tag. It is a well-known fact that Americans have been a driving force behind impressive demand for Tesla’s electric cars, but a new report by Moody's has now provided a glimpse into just how crucial the U.S. is to Tesla’s success.

Citing registration data from Polk, Moody’s said that Tesla dominates the electric vehicle market in the United States, selling nearly 45 per cent of all e-vehicles in the first six months of 2017.

Tesla’s share of 45 per cent is well ahead of General Motors (GM), which accounted for 16 per cent of the U.S. market thanks to its electric car Chevy Bolt.

According to the newly released Moody's report, people in the U.S. bought nearly 13,900 Model S vehicles from January till June this year.

The Tesla Model X and the Chevy Bolt each garnered 16 per cent of the American EV market. The figure is equivalent to nearly 7,600 for each model.

Americans remain crucial for sales of the Tesla Model S as 55 per cent of the 25,450 Model S cars delivered in the first six months of this year went to Americans. Of the 21,500 Model X SUVs delivered during the same period, nearly 36 per cent were grabbed by American buyers. Tesla is trying to promote its products in the European markets as well but due to lack of supercharging stations, the acceptance level is low compared to that in the United States.