Tesla's Market Share Has Fallen So Badly That It's Back to 2017 Levels
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Tesla's Market Share Has Fallen So Badly That It's Back to 2017 Levels
"Ten years ago, it was rare to see a Tesla on the road. The Model S, despite being the world's best-selling EV at the time, sold just over 50,000 units worldwide, making it rarer to see on the road than the exceedingly rare Porsche Macan. In the following years, Tesla rocketed to the top of the sales charts, cementing its Model Y as the best-selling vehicle of 2023."
"Now, Tesla's once dominant empire has shriveled to a shell of its former self. Though the EV company once commanded a whopping 80 percent of the US EV market, its market share fell to 38 percent in August, well below the 40 percent it held in October 2017, according to Reuters. 2017 is a significant milestone for the company, marking the year Tesla began struggling to push its first mass-produced vehicle out the door, the Model 3."
Ten years ago Teslas were rare; the Model S sold just over 50,000 units worldwide, rarer than the Porsche Macan. Tesla later rose to the top of EV sales, with the Model Y becoming the best-selling vehicle of 2023. U.S. EV market share fell from as high as 80% to 38% in August, below the 40% held in October 2017. Tesla struggled in late 2017 with Model 3 production, shipping only 29,000 vehicles between October and December. The company has pivoted toward humanoid robots, robotaxis, and AI, reducing focus on mass-market vehicles. The Robotaxi effort faced legal and operational setbacks, including revoked user access.
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