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Is Tesla's dominance in luxury market under pressure as Mercedes to unveil new model?

Mercedes is poised to unveil its much-anticipated electric SUV (sport utility vehicle) in Stockholm.

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Tesla's market share in the market is expected to drop

Tesla's (NASDAQ:TSLA) dominance in the luxury electric car market is likely to come under pressure as the German car beasts start to get in on the act.

Tomorrow (Tuesday) Daimler-owned (OTC:DDAIF) Mercedes is poised to unveil its much-anticipated electric SUV (sport utility vehicle) in Stockholm.

The auto - called the EQC -  is due to make first customer sales next year and will be priced in the vicinity of Tesla’s US$49,000 Model 3.

Tesla's Model 3 sedan sales are expected to reach around 50,000 cars this year and almost double that in 2019, though this may be questionable based on today's news that it had reportedly missed its target of making 6,000 a week, and only made 4,300 units in the last week of August.

READ: Dyson planning to build an electric car test track as it gears up to become a possible rival for Tesla

The launch of the EQC will be followed by electric vehicle debuts from BMW and Audi.

According to one line of research, there is likely to be a steady decline in Tesla’s share of the exploding electric-car market over the next decade, from today’s 12.3% of the market, dropping to 2.8%.

Elon Musk led Tesla, as usual, hasn't been out of the news of late, for various reasons.

Last week, Dyson, a company more usually associated with vacuum cleaners, is reportedly planning to build a 10-mile test track in Wiltshire where the privately-owned firm will put new electric cars through their paces.

Reportedly, this is part of a plan by the firm, founded by inventor James Dyson, to start selling a "radical" electric car from 2021.

Tesla Inc (NASDAQ:TSLA) shares closed Friday, down 0.49% to stand at C$301.66.

Quick facts: Tesla Inc

Price: $211.40

Market: NASDAQ
Market Cap: $37.87 billion
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