Brands like Cadillac, Ford and Kia are stepping up while Tesla's sales suffer.
There’s been ample chatter, including plenty on this very website, about Tesla’s lackluster vehicle sales this year. In the first quarter, global deliveries slumped badly. In Q2, they dropped again on a year-over-year basis, though not as severely as some feared. Sure, Tesla is an integral part of the U.S. electric vehicle market. But this isn’t 2016 and Elon Musk’s firm is far from the only game in town anymore.
But Tesla is also navigating some Tesla-specific problems, like its aging vehicle lineup, lack of a sub-$35,000 offering and loudmouth CEO. Tesla makes up so much of the EV market—just under half in Q2, according to Cox—that it’s dragging down numbers for the U.S. at large. The rest of the EV industry is growing at a healthy pace. For more proof, let’s look at some standout brands from the first half of 2024.
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