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

Anecdotal: 8 years ago, Tesla would be at the top of my list if I was looking to buy a luxury or electric car. It had, and to some extent still has, a nice buzz to it. It was the Apple of the car industry. Today, I would feel downright ashamed to buy a Tesla, knowing that my money will be directly fueling Elon's wallet and ego. I've never seen someone burn their reputation as quickly as he did with his twitter acquisition.

I always felt that Tesla was the compromise you&#x27;d have to make if you wanted an EV. Now the compromise is Electrify America if you go for an EV from an established auto manufacturer, but fortunately that&#x27;s changing.<p>One thing Tesla is exceptional at is building and maintaining a rapid charging network. Now that they&#x27;re opening up to non-Tesla EVs I can only imagine a more rapid decline in their market share. Tesla superchargers and a Toyota or Lexus EV? Sign me up yesterday!

When your CEO turns the brand from a status symbol to the opposite, it&#x27;s &quot;concerning&quot;.

&gt; Tesla accounted for 49.7 percent of electric vehicles sales from April through June, down from 59.3 percent a year earlier.<p>Still a commanding market share, so much so that in a mature market it would draw the ire of Lina Khan. That being said, the first derivative does not look good. TSLA stock up like 9 days in a row. Maybe this puts on the brakes, but latest move seems like some short covering mixed in.

This might be temporary because people who want a new Model Y are waiting for the refresh to come out, and those who wanted a new Model 3 likely also waited for the anticipated refresh to come out before pulling the trigger.

I heard that most of the U.S car manufacturers have drastically reduced their EV car manufacturing due to the slowing economy, so that means once demand for cars picks up again, they&#x27;ll be ill-prepared to meet the demand for EV cars. (As demand for EV should keep growing steadily in the long run over ICE vehicles)

Competition should be a good thing right?

I can&#x27;t read because of the paywall, but are their relative sales down but absolute sales up?<p>Tempted to guess &quot;no&quot; since there&#x27;s a bit of an EV winter going on, even though EVs are the future...