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Tesla is losing ground in the US electric car market - its share has fallen to 65%.

Published: 2023-01-16

Tesla, although it is considered the leader in the global electric vehicle market, traditionally can only boast of the largest margin from competitors in the US home market. For example, it sold 522,388 electric vehicles there last year, while second place Ford Motor sold only 61,575 electric vehicles. At the same time, competitors are inevitably pushing Tesla even in the US, where its market share has fallen from 72% to 65% over the year.

In fact, in the fourth quarter, Tesla's share of the US electric car market did not exceed 58%, although a year ago it reached 78%. It should come as no surprise that Tesla has cut the price of its electric vehicles by up to 20% this month, hoping to at least maintain its current position. Tesla Model Y continues to be the bestseller of the American market, Tesla Model 3 is in second place, and if the Ford Mustang Mach-E and Chevrolet Bolt EV are still able to take third and fourth places, then not the cheapest Tesla Model S (from $ 95,000) and Model X (from $110,000) confidently hold on to fifth and sixth, respectively. The company was the only manufacturer whose products are in the top ten favorites of the US electric vehicle market with several models at the same time.

In total, 808,619 electric vehicles were sold in the US in 2022, including 225,689 vehicles in the fourth quarter. According to the results of the year, the market capacity increased by 66%, according to the results of the fourth quarter separately - by 58%. If in 2021 electric vehicles occupied only 3% of the US automotive market, then at the end of last year this share doubled to 6%. Thirty of the models presented on the local market were sold in quantities of more than a thousand pieces each, while in 2021 this figure did not exceed 18 models. Last year, 11 brands were able to sell more than 10,000 electric vehicles each in the US market, while in 2021 this figure did not exceed seven. This year, the revival of the market will be facilitated by the provision of subsidies by the authorities for the purchase of electric vehicles by citizens, in the amount of up to $7,500 per car.