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TESLA'S MARKET SHARE OF ELECTRIC CARS IS COLLAPSING (futurism.com)

submitted 1 month ago by [email protected] to c/[email protected]

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But even as sales for EVs are reaching record highs, Tesla's control over the market is starting to seriously wane, slipping below 50 percent in the second quarter of this year, the New York Times reports. Tesla represented 49.7 percent of EV sales over that period, down from 59.3 percent in Q2 of last year.

So EV market has grown, but overall sales of Tesla have declined in both Q1 and Q2 this year compared to Q1 and Q2 respectively of 2023. I feel like "collapsing" is hyperbole though, but that's what the article says. (And clickbait attracts more clicks right?)

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[–] [email protected] 27 points 1 month ago* (last edited 1 month ago) (8 children)

They lost 17% of their market share in a year, while also having 2 quarters way below expectations. That's not insignificant.

The title is still sensationalist.

It makes kind of sense if you take the massively overvalued stock price into account, though.

[–] [email protected] 1 points 1 month ago (7 children)

but thats not because they are selling less just they are not the only game in town anymore.

[–] [email protected] 20 points 1 month ago* (last edited 1 month ago) (6 children)

but thats not because they are selling less

Tesla is selling less. Q1 and Q2 are both less than last year. The numbers have already been released.

Tesla sold fewer cars AND the market has grown, there's more EVs being sold than ever before while Tesla sales are declining. Its a double-whammy on market-share.

[–] [email protected] 2 points 1 month ago (1 children)

Didn't they also drop prices by quite a bit? So they're selling less and making less profit per sale.

[–] [email protected] 2 points 1 month ago* (last edited 1 month ago)

Yeah, we will know the damage to the margins in a few weeks. But the only Q2 numbers reported so far are just the deliveries.

Its a short couple of weeks, no point speculating (even though we all know the prices dropped). Just wait for the real data.

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