Tesla Market Share Dips Below 40% In USA For First Time Since 2017 - CleanTechnica

Tesla’s market share of electric vehicle (EV) sales in the United States has fallen below 40% for the first time since 2017, dropping to approximately 38% in August. This marks a significant decline from Tesla’s previous dominance, when it controlled over 80% of the US EV market. The overall US EV market grew by 24% month-over-month in August, driven partly by the impending expiration of a $7,500 federal tax credit, but Tesla’s sales only increased by 3.1%, indicating that competitors like Hyundai, Honda, Kia, Toyota, and Volkswagen are gaining ground rapidly. Volkswagen, in particular, saw a 450% increase in EV sales in July due to attractive leasing and incentives. Tesla’s decline in market share coincides with a lack of new product launches; the company has not introduced a new model since the Cybertruck began deliveries in 2023, despite its initial unveiling in 2019. Even a recent refresh of the Model