In the first quarter of 2024, Tesla experienced a nearly 9 percent decline in U.S. sales, contrasting with the overall electric vehicle market which grew by 11 percent. Buyers are increasingly opting for competitors, especially models like GM's Chevrolet Equinox, which offers affordability and range. Though Tesla still leads the EV market with a 44 percent share, this represents a decrease from 51 percent last year. The global trend reflects a similar downturn, with overall deliveries down 13 percent for the company.
Tesla's sales in the U.S. declined nearly 9% in Q1 2024, while EV sales overall rose, as buyers shift to models from competitors like GM.
Despite challenges, the U.S. electric vehicle market continues to grow, with Tesla accounting for 44% of all electric car sales in Q1, though down from 51%.
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