Tesla continues to dominate the US luxury sedan market with its Model S. The vehicle topped the list again as its third quarter sales indicate a 59 percent increase year-over-year. The company reported selling 9.156 units during the quarter. Tesla also sold 5,428 units of its Model X in the same period.

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The Tesla Model S retained its top position and surpassed the competition by a wide margin. Its closest competitor, the Mercedes-Benz S Class, sold 4,921 units during the quarter but registered a nine percent decline on a year-over-year basis. The BMW 7 Series clinched the third spot with 3,634 units, showing an impressive 219 percent year-over-year gain.

Tesla accounted for 32 percent of the sales in the segment during the third quarter of the year. Referring to Tesla's rise, Kenn Sparks, a spokesman for BMW said that the data points to the rise of electric cars. He also added that such rise is "ultimately good for us all."

This is the first times that Tesla has reported its quarterly US sales numbers, which does not include the country-wise breakup of sales. The news may allay the fears that the automaker may need a massive cash infusion to stay afloat. Recently, the company's CEO Elon Musk stated that Tesla does not need to raise funds during the remaining period of the calendar year.

Tesla is now looking forward to rolling out its new Model 3, priced at $35,000. The car will serve as an entry-level vehicle in the luxury sedan segment. The model is believed to have amassed nearly 400,000 pre-orders.