TESLA'S MARKET SHARE OF ELECTRIC CARS IS COLLAPSING
TESLA'S MARKET SHARE OF ELECTRIC CARS IS COLLAPSING
Tesla's market share over electric vehicles dropped below 50 percent in the second quarter of this year for the first time ever.
But even as sales for EVs are reaching record highs, Tesla's control over the market is starting to seriously wane, slipping below 50 percent in the second quarter of this year, the New York Times reports. Tesla represented 49.7 percent of EV sales over that period, down from 59.3 percent in Q2 of last year.
So EV market has grown, but overall sales of Tesla have declined in both Q1 and Q2 this year compared to Q1 and Q2 respectively of 2023. I feel like "collapsing" is hyperbole though, but that's what the article says. (And clickbait attracts more clicks right?)
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They lost 17% of their market share in a year, while also having 2 quarters way below expectations. That's not insignificant.
The title is still sensationalist.
It makes kind of sense if you take the massively overvalued stock price into account, though.
but thats not because they are selling less just they are not the only game in town anymore.
but thats not because they are selling less
Tesla is selling less. Q1 and Q2 are both less than last year. The numbers have already been released.
Tesla sold fewer cars AND the market has grown, there's more EVs being sold than ever before while Tesla sales are declining. Its a double-whammy on market-share.
my mistake. I admit I see titles like this and I assume they are gaming it because of the metric they are using. Just saying their sales are declining year over year would be more direct.
No problem.
This headline sucks for many reasons. But I have rule5 for a reason. If the original website is clickbaity, its better to just be honest and blame the website for its clickbait. There's too much abuse when everyone else editorializes headlines themselves.
oh im totally blaming the website. Not sure its really more clickbaity as one over the other its just tesla has never been all that large so talking in terms of market share becomes wierd as it had an unusually large share relative to its size for the subset of the market.
I returned to the US for the first time in 4 years last month. When I left the US a Tesla was a novelty. You'd see them occasionally, but they didn't have any real market share. When I returned last month it would be hard to drive ten minutes without seeing one.
Didn't they also drop prices by quite a bit? So they're selling less and making less profit per sale.
Yeah, we will know the damage to the margins in a few weeks. But the only Q2 numbers reported so far are just the deliveries.
Its a short couple of weeks, no point speculating (even though we all know the prices dropped). Just wait for the real data.