Photo: Volkswagen
They say being at the top is risky, thrilling, and fun. You’ll constantly be looking over your shoulder, and it takes a beast to survive. Ladies and gentlemen, that’s the story of Tesla Motors. After taking a plunge into the unknown, the U.S. electric car pioneer walked out of the pits victorious. But their so-called lead is under attack. Simply put, the auto industry is fighting back.
Ever since the first Tesla rolled out in 2008, the Austin-based automaker has been ripping benefits in electric vehicle sales for being a forerunner. But the tides are changing, and competition is slowly catching up.
According to EV subscription startup Autonomy, about 15 new electric car models had been introduced by other automakers in the American market by the beginning of 2021, bringing an end to a decade-long monotony.
Eight more models were introduced in the last 12 months. They are not just offering an option, but competitive styling, attractive specs, and compelling prices. And as a result, putting a strain on Tesla.
The electric vehicle pioneer controlled about 73% of EV sales in California between January and September. This is the lowest decline since 2018, according to Reuters.
Data from new vehicle registration by California Energy Commission show Tesla enjoyed a 75% share in 2021 and about 79% during the pandemic-raged 2020.
Tesla might still enjoy segment leadership in the U.S. market. Automotive News said its year-over-year registration in the last nine months grew by 50%. However, legacy automakers and non-Tesla startups witnessed a 71% increase in electric vehicle registrations in September, with 22 brands sharing the spoils of 183,750 new EV registrations in the country.
From a statistical point of view, Tesla’s market share will potentially plummet below 73%, Autonomy predicts, well below 50% in the first quarter and about 40% by the end of next year.
Tesla CEO Elon Musk’s recent escapades pursuing Twitter have put a block of doubt on investors over its future. They believe his involvement with the social media platform could deter potential clients.
On the brighter side, the U.S. EV market has witnessed a 57% incline in registrations to 530,577. In September, electric vehicle sales took a 5.2% share (2.4% increase) of total U.S. light vehicle registrations.
According to EV subscription startup Autonomy, about 15 new electric car models had been introduced by other automakers in the American market by the beginning of 2021, bringing an end to a decade-long monotony.
Eight more models were introduced in the last 12 months. They are not just offering an option, but competitive styling, attractive specs, and compelling prices. And as a result, putting a strain on Tesla.
The electric vehicle pioneer controlled about 73% of EV sales in California between January and September. This is the lowest decline since 2018, according to Reuters.
Data from new vehicle registration by California Energy Commission show Tesla enjoyed a 75% share in 2021 and about 79% during the pandemic-raged 2020.
Tesla might still enjoy segment leadership in the U.S. market. Automotive News said its year-over-year registration in the last nine months grew by 50%. However, legacy automakers and non-Tesla startups witnessed a 71% increase in electric vehicle registrations in September, with 22 brands sharing the spoils of 183,750 new EV registrations in the country.
From a statistical point of view, Tesla’s market share will potentially plummet below 73%, Autonomy predicts, well below 50% in the first quarter and about 40% by the end of next year.
Tesla CEO Elon Musk’s recent escapades pursuing Twitter have put a block of doubt on investors over its future. They believe his involvement with the social media platform could deter potential clients.
On the brighter side, the U.S. EV market has witnessed a 57% incline in registrations to 530,577. In September, electric vehicle sales took a 5.2% share (2.4% increase) of total U.S. light vehicle registrations.
EV registrations in U.S. rise 57% in September as Tesla rivals turn up pressure https://t.co/9vnHNe6MRX pic.twitter.com/HSyvXb6KKH
— Automotive News (@Automotive_News) November 9, 2022
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