Tesla still sells a lot more EVs in the US than anyone else
Tesla’s market share is declining but it’s still the biggest EV maker in the room.
Even as Tesla continues to lose market share to competitors, it’s important to note that it’s still selling a lot more EVs than anyone else. In August, Tesla sold about 55,000 cars in the US — more than the next four top brands combined, new data from Cox Automotive shows.
However, competitors have been making huge jumps.
Tesla’s market share dwindled to 38% of EV sales in August, down from about 80% five years ago. Meanwhile, Chevrolet, Ford, Hyundai, and Honda were responsible for nearly 30% of EV sales in August, up from 15% a month before, according to data from Cox.
Electric vehicles generally saw record sales last month as would-be buyers moved forward purchases to get the $7,500 federal tax credit before it ends on September 30. Tesla is also expected to see record sales this quarter before sales drop off afterward.