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Tesla’s Market Share Falls Below 50 Percent for the First Time

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Tesla's EV market share fell below 50 percent for the first time last quarter. GM, Ford, Hyundai, and Kia are finally gaining ground on the automaker.

This New Rimac Nevera Is a Two-Tone Supercar That Will Cost $2.5 Millionshowed that Tesla EVs accounted for 49.7 percent of those sold in the U.S. between the beginning of April and the end of June. That number represents a nearly 10-point drop from the same period in 2023, during which the company was responsible for 59.3 percent of EV sales.

This represents the first time that Tesla’s market share has fallen below 50 percent since it created the EV market by releasing the in 2012. At the start of the decade, the company owned 76 percent of the U.S. EV market, but this number has shrunk annually this decade to 56.2 percent last year. The decrease can be attributed to a noticeable dip in the company’s sales last quarter. Although the company performed slightly better than expectations, sales still fell by 6.3 over the period (the. This happened at the same time that overall EV sales rose by 11.3 percent nationwide.

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