Overall, EV sales in the US increased by 8.3% in the second quarter, reaching a total of 330,000 vehicles, representing 8% of the total cars and light trucks sold during that period.
Tesla's market share dropped below 50% for the first time, falling to 49.7% from 59.3% in the same quarter last year, allowing other companies like GM and Ford to gain more ground.
GM and Ford, despite selling fewer EVs compared to Tesla, have seen double-digit growth in their EV sales. They remain optimistic about the benefits of Tesla's declining market share.
Ford and GM are investing heavily in EV R&D and production, aiming to offer EVs at price points below $25,000 in the next few years, despite challenges like consumer interest, fears of range, and lack of charging infrastructure.
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