Tesla is experiencing a decline in sales both in the US and globally, surrendering market share to a surge of new electric vehicle models from competitors like GM, Ford, and VW. In particular, GM has launched multiple electric models, fueling its remarkable growth, while Tesla's sales fell 8.6% year-over-year in the first quarter of 2025. Despite remaining the largest EV manufacturer with a 44% market share, its dominance is being challenged by European brands like BMW and VW and newcomers from China as the overall EV market expands rapidly.
Tesla is losing ground at home and globally as its sales continue a downward slide, ceding market share to other automakers that have flooded the zone with new models in recent years.
GM has launched roughly a dozen new Cadillac, Chevrolet, and GMC-branded EVs over the past year, ranging from the $34,000 compact Chevy Equinox EV SUV to the $300,000+ ultra-luxurious Cadillac Celestiq sedan.
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