The second-most-popular car brand is the first-hand-car brand Tesla, which has seen its sales rise from $2.7 billion in 2016 to $13.9 billion in 2017, according to the research firm Autodata.
The automaker has also been able to extend its second- hand sales, with sales of second-wheeler cars increasing to more than $5 billion in 2020 from $3.5 billion.
However, the brand is struggling to keep up with demand for electric cars and the car industry has seen a rapid drop in the volume of sales.
Tesla has been able with the help of the company’s Gigafactory to produce the latest version of its electric car, Model 3, which the company is hoping to produce at a rate of 100,000 cars per week.
The first- hand-car category includes a range of luxury and performance cars, as well as sport utility vehicles, like a Range Rover and the Tesla Roadster, which will be sold in limited quantities.
The second hand car category includes the likes of Toyota Prius, Ford Focus, Honda Fit, and Mercedes-Benz CLA.
Tesla says that the first and second hand-cars are also popular with young people and families, while the third-hand cars are for people who are interested in owning a car for the first time, like retirees.
Tesla’s second- and third- hand car sales are growing faster than the total of all automakers combined, but the third hand car industry is expected to decline over the next few years due to declining sales of electric cars, the automaker said.