New EV entries nibbling away at Tesla EV share, according to S&P Global Mobility
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Tuesday, November 29, 2022
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SOUTHFIELD, Mich., Nov. 29, 2022 /PRNewswire/ -- Although U.S. electric vehicle registrations remain dominated by Tesla, the brand is showing the expected signs of shedding market share as more entrants arrive. Much of Tesla's share loss is to EVs available in a more accessible MSRP range – below $50,000, where Tesla does not yet truly compete.
Key Points:
- "The EV market in 2022 is a Tesla market, and it will continue to be, so long as its competitors are bound by production capacity."
- Tesla has opened two new assembly plants in 2022 and is looking for the site of its next North American plant.
- However, Mach-E registrations of about 27,800 units are about 8% of the volume Tesla has captured, according to S&P Global Mobility data.
- Editor's Note: This report is from S&P Global Mobility, and not S&P Global Ratings, which is a separately managed division of S&P Global.