Tesla’s Share of U.S. Electric Car Market Falls Below 50%

Tesla's market share for electric vehicles in the United States fell below 50 percent in the second quarter of the year, according to new estimates published by research firm Cox Automotive12. Tesla accounted for 49.7 percent of electric vehicle sales from April through June, down from 59.3 percent a year earlier. This is the first time the company's market share fell below 50 percent in a quarter1.

Tesla's market share decreased from 59.3% in the second quarter of 2022 to 49.7% in the same period of 2023, according to Cox Automotive. This marks the first time the company's market share fell below 50% in a quarter6. The decline comes as Tesla faces increased competition from other automakers such as General Motors, Ford Motor, Hyundai, and Kia3.