The world’s most expensive car is on track to become the most-popular vehicle in history, with sales surging to more than 11 million units this year.
The Tesla Model S is poised to become a new best-seller this year, overtaking the Porsche Cayenne, Audi A3 and Jaguar E-Type.
The car’s popularity is fueled by a combination of high demand and a growing interest in electric vehicles, said Robert W. Baird analyst Alex Linder.
The Model S has been a top seller for the past five years, Linder said.
Tesla’s Model S, which has a price tag of $65,000, is currently the most popular car on the planet, according to Linder’s calculations.
That makes it one of just five cars that have sold more than 12 million units, according the automaker.
Sales of luxury cars are also booming in emerging markets, including China and India.
A survey by the National Bureau of Statistics found that in China, luxury sales are surging and cars are sold for an average of $2,200 more per unit than a luxury car sold in the United States.
In India, luxury cars have been popular for decades, but sales are on the rise, Lister said.
That has led to more luxury sales in emerging economies, which includes China, India and Russia, he said.
The Model S sedan, a luxury sedan, sold an average price of $61,000 in China in the second quarter of 2017, compared with $47,000 for the average car sold by the average American.
Sales of the Model S are growing at a faster pace than those of the Lexus RX500, the Lexa RX, the Audi Q5 and the Porsche Panamera, Linders said.
The Lexus is also gaining ground in Europe.
The Porsche Cayennes and Lexus models are now among the most expensive luxury cars in the World.
The Porsche Caymans have been the most widely sold luxury car for the last four years.
The Lexus has also been a huge seller, Litchfield said.
Sales are up 8 percent for the Lexusa SUV this year compared with the same period last year.
The model has been on sale since 2016, with a starting price of just over $70,000.
The Cadillac ATS has also become a big seller in emerging market markets.
The CTS is on sale in China for about $100,000; in India, for $50,000 less; and in India it costs $25,000 more than a similarly priced Lexus.
Sales in emerging nations have been surging as the economies of the developing world expand, Latchfield said, but the Model 3, the next generation of the CTS, is expected to surpass the C-Max, the Cadillac’s most popular model.
It will be priced between $100 and $150,000 with a battery range of 100 miles.