Tesla's Market Share Decline in US EV Market Reported by Cox Automotive

Money | July 9, 2024, 8:14 p.m.

Tesla (TSLA) has seen a remarkable rise in its stock price, aiming to extend its winning streak and recover year-to-date losses. However, a report by Cox Automotive indicates that Tesla's share of the electric vehicle market in the US has dropped below 50%, signaling increasing competition from other automakers like Ford, Volkswagen, Hyundai, and Kia. As rivals ramp up EV production, Tesla is expanding its focus to include areas like robo-taxis, AI, and energy storage to maintain growth and profitability. Despite facing challenges in market dominance, Tesla's emphasis on diversification and innovation could be key to its future success. Stay informed on the latest market trends and expert analysis by watching the full episode of Market Domination.