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business1d ago
Tesla's EV market share is soaring in the US while its rivals struggle
- Tesla's U.S. EV market share jumped to 59% in Q4 after incentives ended, per Cox Automotive.
- Ford, Rivian, and GM saw much smaller shares and profitability issues without incentives.
- High costs and low sales volume pressured rivals’ EV operations without subsidies.
- Tesla sold about 138,000 U.S. EVs in Q4, supporting its volume-driven advantage.
- Executives highlighted volume as critical for profitability post-incentives.
- Some automakers paused or scaled back US EV plans due to higher costs and lower demand.
- Some rivals reported losses as they attempted to scale without subsidies.
- Tesla’s efficiency and sole focus on high-volume EVs contributed to lower costs.
- The market shift raises questions about the future profitability of US EV makers.
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