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Tesla loses EV market dominance, falls below 50% in US [unit sales in 2024Q2] (www.theregister.com)

submitted 3 months ago by Alphane_Moon@lemmy.world to c/technology@lemmy.world

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[–] autotldr@lemmings.world 12 points 3 months ago (1 children)

This is the best summary I could come up with:

"EV sales exceeded expectations during a record-breaking quarter," said Cox's industry insights director Stephanie Valdez Streaty.

Much of the growth in electric vehicle sales is due to new kit from General Motors, Cox said, with additional strong showings from Ford, Hyundai and Kia.

A recent study on EV adoption from Cox reiterates those points and predicts US car buyers are keen on electric tech.

Increased competition "is leading to continued price pressure, helping push EV adoption slowly higher," she opined.

2024 hasn't been a great one for Tesla, which has seen worsening sales declines, an arson attack, mass layoffs, fallout from the Cybertruck launch and more lawsuits than you can shake a stick at - and all that's before the troubles owner Elon Musk has caused for the company.

It's not clear how far that market share could dip in coming years as EV buyers begin to migrate away from startups toward companies with established histories.

The original article contains 638 words, the summary contains 156 words. Saved 76%. I'm a bot and I'm open source!

[–] victorz@lemmy.world 1 points 3 months ago

arson attack

😮 What? I missed some juicy news, I see.