New electric vehicles displace Tesla as king of the US market – Miami Diario
According to national vehicle registration data, new EV models from various car manufacturers have begun to undermine Tesla's dominance in the US EV market.
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Likewise, figures compiled by S&P Global Mobility show that Tesla still controlled about 65% of the growing electric vehicle market during the first nine months of this year. And competitors made profits in the sub-$50,000 tag price range, where Tesla barely competes, Local 10 reported.
Recall that from 2018 to 2020, Tesla had about 80% of the electric vehicle market, so its share fell to 71% in 2021 and has continued to decline, said Stephanie Brinley, an associate director at S&P.
"Tesla's position is changing as new and more affordable options arrive, offering the same or better technology and production development," S&P Global Mobility said in a statement Tuesday. "As consumer choice and consumer interest in electric vehicles is growing, Tesla's ability to retain dominant market share will be challenged going forward."
Tesla
Similarly, according to S&P, electric vehicles have gained 2,4 percentage points of the US market share this year, an industry that has been growing to 5,2% of all light vehicle registrations, where Of the 525.000 EVs registered during the first nine months of the year, about 65%, or 340.000, were from Tesla, S&P said.
In turn, Tesla, which has a smaller market share, continues to see sales grow as consumer interest increases, Brinley said.
“The EV market in 2022 is a Tesla market, and it will remain so as long as competitors are tied to production capacity,” he said.
Electric vehicles
Similarly, shortages of computer chips and other parts have prevented many competitors such as Ford, General Motors, Hyundai, Kia and Volkswagen from operating factories at full capacity to meet demand.
Tesla also faces competition at the higher end of the market from BMW, Mercedes-Benz, Audi, Polestar, Rivian, Lucid and others.
S&P said there are 48 EV models for sale in the US today, and it expects that to grow to 159 by the end of 2025.
Tesla plans to introduce its Cybertruck pickup next year and a new Roadster at an undefined date, but otherwise its lineup of light-duty models in 2025 will be the same as it is now, S&P said. The company has plans to deliver some electric semis to PepsiCo on Thursday.
S&P also found that consumers who bought battery electric vehicles so far this year had opted for Honda and Toyota vehicles before switching. Both companies have fuel-efficient internal combustion and hybrid models, but have been slow to launch electric vehicles in the US. Toyota has just one model, while Honda will have none until 2024.
Tesla's Model Y small SUV and Model 3 small sedan were the top 2 SUVs, accounting for more than half of all EV registrations, Brinley said.
Ford's Mustang Mach-E was third, followed by two more Tesla's, the Model S sedan and the X SUV. Rounding out the top 10 EVs were the Chevrolet Bolt sedan and SUV, Hyundai Ioniq 5, Kia EV6, Volkswagen ID.4 and Nissan Leaf.
Tesla Full Self-Driving Beta is now available to anyone in North America who requests it from the car screen, assuming you have purchased this option.
Congratulations to Tesla Autopilot/AI team on achieving a major milestone!
— Elon Musk (@elonmusk) November 24, 2022
Miami Daily
Author: Monica Munoz 6:28 pm