"Tesla Inc. ( NASDAQ: TSLA) cannot get a break anywhere. Its U.S. market share has dropped to about 45% from a figure closer to 80% a decade ago. Legacy car companies, including Ford, GM, and Hyundai, have each taken small shares of the electric vehicle (EV) market, and together they now hold over 25%. Tesla sales, and all EV sales, in the United States jumped in the third quarter as people rushed to get the EV tax credit of $7,500."
"In October, Tesla shipments in China dropped 9.9% year over year to 61,497. That puts its market share in seventh place, and well behind market leader BYD. It is hard to put a finger on why Tesla's deliveries in China are poor. Some say that Tesla has not had new models recently. Some say its cars lack the level of connectivity that others have. Others say Tesla is behind in the self-driving space."
Tesla's U.S. market share has fallen to about 45% from near 80% a decade ago as legacy automakers like Ford, GM, and Hyundai now hold over 25% of the EV market. U.S. EV sales spiked in Q3 because buyers sought a $7,500 tax credit, but Tesla profits declined after price cuts and sales are expected to drop now that the credit expired. European unit sales are falling amid stronger competition, an aging Tesla lineup, and CEO-related backlash, while China faces intense competition among 100+ EV brands, a price war, and supplier stress. October shipments in China fell 9.9% to 61,497, leaving Tesla seventh and well behind BYD. Multiple factors—fewer new models, weaker connectivity, and lagging autonomous features—are cited for poor China deliveries, and recovery appears uncertain.
Read at 24/7 Wall St.
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