The setback reflects the progress of its competitors, which offer new models with strong incentives, in a context in which federal tax credits to the purchase of electric cars will expire at the end of the month.
Tesla’s participation in the US electric car market fell in August to its lowest level in almost eight years, according to Cox Automotive data. The company of Elon Musk represented the 38% of EV sales in the country, marking the First time it is below 40% since 2017, when Model 3 launched.
The setback reflects the progress of its competitors, which offer new models with strong incentives, in a context in which federal tax credits to the purchase of electric cars will expire at the end of the month.
Tesla loses land in the electric car market
While the general market grew 14% in August, Tesla barely rose 3.1%, What demonstrates the pressure facing its oldest models, according to Reuters.
Tesla Electric cars
Reuters
Tesla has opted for projects Artificial and robotics intelligencebut without news of great impact on its vehicle line. His last release, the pick up Cybertruckdid not reach the success of Model 3 or Model and.
Faced with this, brands like Hyundai, Kia, Honda and Toyota They managed to grow with attractive discounts and plans, capturing buyers who until recently bowed to Tesla.
According to Cox, the company Musk Face now a dilemma: defend your profitability or sacrifice margin to keep market share.
Source: Ambito
