During the third quarter of 2023, Tesla once again improved its market share in some of the largest car markets around the world. According to the industry data highlighted by Tesla in its Q3 financial report, the brand's market share in the United States/Canada is now basically at four percent, compared to less than 3.5 percent a year ago.
We guess that Q3 was affected by the introduction of the upgraded Tesla Model 3 Highland, which will enter the Chinese market in October. Depending on the demand, future quarters might bring the continuation of market share growth. The third quarter was challenging for Tesla. The company explains that it 'brought down several production lines for upgrades at various factories, which led to a sequential decline in production volumes.
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