Reported about 11 hours ago
Tesla's market share in the U.S. dropped to 38% in August, its lowest since 2017, as consumers increasingly opted for electric vehicles from competing brands. This decline coincides with a surge in sales from rivals like Hyundai and Volkswagen, who are offering attractive incentives, while Tesla sharply reduced its focus on new vehicle models. Analysts predict continued pressure on Tesla's market position as federal tax credits for EVs are set to expire, presenting a challenge for maintaining profits without losing sales.
Source: YAHOO