Reported 8 months ago
According to S&P Global Mobility data, new electric vehicle registrations in the US surged by 14% in April, but Tesla's share of new registrations fell below 50%. Additionally, Tesla recalled over 20,000 Cybertrucks due to wiper and trunk trim issues. While overall electric vehicle sales in April showed double-digit growth, surpassing the 7.3% increase in the overall light vehicle market, Tesla's performance was disappointing. This drop in market share is attributed to competition from traditional automakers offering electric cars, like Toyota's bZ4X with a 646% year-over-year registration increase and Ford's Mustang Mach-E with a 287% increase. The NHTSA highlighted safety concerns with Tesla's recalled models. Despite a strong April for electric vehicle sales, it indicates a turbulent year ahead for the electric vehicle market in 2024.
Source: YAHOO