Breakingviews - Tesla’s new burden: shouldering the market

📆 20/07/2023 14:18:00
📰 Reuters

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On Breakingviews: Elon Musk doesn’t shy away from plans to change the world. The burden of running Tesla is that he has to, says JMAGuilford

more cars than it could sell. Its U.S. growth flatlined in 2022, Cox reckons, as the overall quarterly growth rate of electric sales downshifted.

Plus Tesla is so large now that it can’t just preach to easy converts. It needs the entire electric-vehicle market to grow beyond its current 7% share of the U.S. market, to bring in new buyers. That’s especially true given competitors’ push into battery-powered rides, shaving Musk’s slice of the electric pie to 59% this quarter.Tesla’s supercharger network to rivals, who in turn are adopting his company’s more reliable plug design.

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