S&P Global Mobility forecasts Tesla's market share will decline to less than 20% by 2025, as EV models grow from 48 today to 159 by then.
A drop in Tesla's U.S. market share was expected, but the rate of the decline could be concerning for investors in Elon Musk's autos and energy company. As Musk focuses attention on fixing his recently acquired, Tesla shares traded around $180 mid-day Tuesday. Tesla's stock has declined by almost half year-to-date.
During the company's third-quarter earnings call in October, Musk said Tesla was finally working on a new, more affordable model that he first teased in 2020. Stephanie Brinley, associate director of AutoIntelligence for S&P Global Mobility, noted that Tesla's unit sales are expected to increase in coming years despite the decline in its market share.
The majority of the EVs registered through September − or nearly 340,000 − were Teslas, according to S&P. The remaining vehicles were divided, very unevenly, among 46 other nameplates.
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