Tesla still dominant, but its US market share is eroding as cheaper EVs arrive

S&P Global Mobility forecasts Tesla's market share will decline to less than 20% by 2025, as EV models grow from 48 today to 159 by then.

A drop in Tesla's U.S. market share was expected, but the rate of the decline could be concerning for investors in Elon Musk's autos and energy company. As Musk focuses attention on fixing his recently acquired, Tesla shares traded around $180 mid-day Tuesday. Tesla's stock has declined by almost half year-to-date.

During the company's third-quarter earnings call in October, Musk said Tesla was finally working on a new, more affordable model that he first teased in 2020. Stephanie Brinley, associate director of AutoIntelligence for S&P Global Mobility, noted that Tesla's unit sales are expected to increase in coming years despite the decline in its market share.

The majority of the EVs registered through September − or nearly 340,000 − were Teslas, according to S&P. The remaining vehicles were divided, very unevenly, among 46 other nameplates.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla market share could be dented by cheaper rival EVs - S&P Global MobilityTesla Inc may be losing its tight grip on the electric car market, as rivals try to chip away at its market share with cheaper options.
Read more »

Tesla Recalls 80,000 EVs In China, But Only 16% Need Service VisitOf the total number, 67,700 are Model S and Model X EVs that will be fixed via OTA software updates, and 12,800 are Model 3s that require a physical fix.
Read more »

EVs Could Account For ~90% Share Of The Market By 2027This article looks at the forecast that electric vehicles will take the majority of the marketplace by 2027.
Read more »

Nearly a thousand Vietnamese EVs are on their way to the USIt’s a major milestone for the Vietnamese automaker.
Read more »

Tesla's EVs May Figure Out If You're Using Devices To Cheat AutopilotIt probably won't be long before people are making videos about how to cheat Tesla's system that aims to keep you from using Autopilot cheat devices.
Read more »

First Vinfast EVs set sail for USNew EV brand Vinfast plans a five-model lineup for the U.S. market.
Read more »