Tesla's EV market share in the US falls to 38% - the first time it's fallen below 40% in nearly 8 years

"In its earnings release, the company cited factors like "a sustained uncertain macroeconomic environment" stemming from "shifting tariffs,unclear impacts from changes to fiscal policy and political sentiment.""

"Musk said it's possible Tesla could have "a few rough quarters" owing to the expiration of the EV federal tax credit at the end of September and the broader regulatory environment."

""I know they're positioning themselves as a robotics, AI company. But when you're a car company, when you don't have new products, your share will start to decline," Stephanie Valdez Streaty, Cox's director of industry insights, told Reuters."

Tesla's share of US electric vehicle sales fell to 38%, the first time below 40% since October 2017. The company once held over 80% of the US EV market. Tesla reported its largest year-over-year revenue decline in a decade and missed delivery and revenue expectations. The company cited a sustained uncertain macroeconomic environment, shifting tariffs, unclear fiscal policy impacts, and political sentiment as factors. The expiration of the federal EV tax credit and regulatory headwinds could produce rough quarters. Tesla is shifting attention toward AI and its humanoid robot Optimus while rivals gain ground.

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