Tesla Leads EV Market Share, But Rivals' Cheaper Models Are Gaining via insideevs.com
SUV. Tesla's EVs built on this future platform will be more affordable, which should help the US EV maker regain some ground that it's currently losing with regard to US market share in the segment., Tesla has a 65 percent share of the EV market on our shores. While that's an impressive number no matter how you look at it, just two years ago, it was 79 percent.
Looking at the chart below reveals that the main reason people are likely to choose rivals' EVs over Tesla's models is the price. In fact, S&P Global Mobility went so far as to share in its report that Tesla's loss of US market share can be primarily attributed to the arrival of competing EVs that cost less than $50,000. Tesla currently competes in the"luxury" EV space and doesn't offer"cheap" electric cars.
Teslarati goes on to add that from January to September of 2022, well over 50 percent of the entire EV market was held by Tesla's Model 3 and Model Y, the brand's least expensive options. About 525,000 EVs were registered in the States over the course of the first three quarters, and some 340,000 of those vehicles were produced by Tesla.are all among the top five electric vehicles sold in the US over the first three quarters of 2022.
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