Under-$50K EVs are chipping away at Tesla's U.S. market share - Autoblog

But numbers collected by S&P Global Mobility show that Tesla still controlled about 65% of the growing electric vehicle market during the first nine months of this year. And the competitors made gains in the sticker price range below $50,000, where Tesla barely competes.

From 2018 through 2020, Tesla had about 80% of the EV market. Its share dropped to 71% in 2021 and has continued to decline, said Stephanie Brinley, an S&P associate director. “Tesla's position is changing as new, more affordable options arrive, offering equal or better technology and production build,” S&P Global Mobility said in a statement Tuesday. “Given that consumer choice and consumer interest in EVs is growing, Tesla's ability to retain a dominant market share will be challenged going forward.”

According to S&P, electric vehicles have picked up 2.4 percentage points of U.S. market share this year, growing to 5.2% of all light vehicle registrations. Of the 525,000 electric vehicles registered during the first nine months of the year, about 65%, or 340,000, were Teslas, S&P said. Despite the smaller market share, Tesla will continue to see its sales grow as consumer interest increases, Brinley said. “The EV market in 2022 is a Tesla market, and it will continue to be so long as competitors are bound by production capacity,” she said.

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Tesla still dominant, but its US market share is eroding as cheaper EVs arriveS&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. was this unexpected? Your article presents this point as something that wasn't planned for or expected. Have you never been shopping in America? Give it another 2 years and the market will equalize on like model price points. like you might say , nobody watching and nobody listening GoWokeGoBroke Tesla will lose30% of their marketshare by 2028 when Ford, GM and the Europeans come online with a full lineup
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