Tesla, Declining Market Share in the U.S. Electric Vehicle Market

[Asia Economy Reporter Kiho Sung] An analysis has emerged that Tesla's market share in the U.S. electric vehicle market is declining.

According to U.S. media on the 4th (local time), investment bank Morgan Stanley analyzed that Tesla's market share in the U.S. electric vehicle market last month was 69%, significantly down from 81% in the same month last year.

Morgan Stanley explained that while sales of internal combustion engine vehicles in the U.S. auto market decreased by 5.4% last month, electric vehicle sales increased by 34%, expanding the electric vehicle market size. Although Tesla's sales increased, its market share declined.

In particular, it was diagnosed that the Ford electric sports utility vehicle (SUV), Mustang Mach-E, launched at the end of January, sold 3,739 units last month, leading to Tesla's market share decline.

Tesla has already lost the number one spot in electric vehicle sales to Volkswagen in several European countries, including Norway.