Tesla Hits Soft Patch: Tesla's global battery EV market share fell notably from 27% in September to 11% in October, reflecting the company's typical progression in a "quarterly wave," Levy said. Todays level of available electric car models is still significantly lower than the number of ICE options on the market, but the number of ICE models available has been steadily decreasing since its peak in the mid-2010s. In many developing economies, two/three-wheelers offer an affordable way to get access to mobility, meaning their electrification is important to support sustainable development. Tesla (TSLA) still has a solid lead in the global EV market share, according to a Morgan Stanley report. But its lead has been slipping. Check Out Leaderboard's 10-Year Anniversary Sale, Want To Get Quick Profits And Avoid Big Losses? According to the industry data (trailing twelve months), Tesla 's market share in the US/Canada (counted together) appears to be somewhere around 3.3% and is moving toward 3.5%. Tesla earnings surged 230% to $1.45, easily beating FactSet forecasts for 94 cents, as revenue nearly doubled to $11.96 billion, above estimates for $11.53 billion. Global brands with the highest brand value gains 2022, Tesla's energy generation and storage revenue 2015-2021, Electric vehicles - global market size 2021 & 2027, Electric vehicles - battery range of select models in U.S. 2022, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. Meanwhile, luxury EVs from Mercedes-Benz, BMW, and Audias well as the Ford F-150 Lightningare coming for the high end of the EV market. Global electric car sales' 'explosive growth' - in numbers Ownership data provided by Refinitiv and Estimates data provided by FactSet. Under the IEA Stated Policies Scenario (STEPS), the global outlook for the share of electric car sales based on existing policies and firm objectives has increased to 35% in 2030, up from less than 25% in the previous outlook. The overwhelming majority of electric car sales to date are in China 60% of global electric car sales took place there in 2022. So if I were Tesla, I wouldnt worry too much. In China, where Tesla gets nearly a quarter of its revenue, the company slashed prices in October and again at the start of January. In 2022, about 60% of lithium, 30% of cobalt and 10% of nickel demand was for EV batteries. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. Clicking on the following button will update the content below. 'Investment opportunity of a lifetime': Cathie Wood says the robotaxi Tesla Leads EV Market Share, But Rivals' Cheaper Models Are Gaining Read more: Renewables will be the largest source of electricity by early 2025, Graph: IEA. Tesla stock fell 2% to close at 644.78 on the stock market today. Licence: CC BY 4.0; Photo: Tesla. But GM's big push into EVs outside the Mini starts late this year with the Hummer and EV Transit. Get the best reports to understand your industry, Electric vehicle market in the Asia-Pacific region. Electric vehicles are an undeniable trend. Tesla's Global EV Market Share Fell 21% So Far In 2021 - SeekingAlpha Two or three-wheelers are the most electrified market segment today; in emerging markets and developing economies, they outnumber cars. The European Union and the United States have passed legislation to match their electrification ambitions. The gap between sales of the third and the fourth place is also significant. Tesla's. However, outside of China, there is a need for original equipment manufacturers (OEMs) to offer affordable, competitively priced options in order to enable mass adoption of EVs. The global electric vehicle market saw a 65% YoY growth in 2022 as EV sales climbed over 10.2 million units. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Tesla Is Losing Market Share to Ford, GM, and Audi - Business Insider Try SwingTrader, How To Know It's Time To Sell Your Favorite Stock, After Hours: 5 Big Movers On Huge Earnings Night. Currently, Tesla has about 18% of a global EV market that itself has about 3% fo the global passenger vehicle market. MarketSmith chart analysis shows Tesla stock has undercut its 200-day line and is trying to find support at its 50-day. . However, many of these incentives are coming to an end. Tesla is a transportation and energy company. Tesla may be losing EV market share - Business Insider Tesla (TSLA) still dominates US electric car market with 68% market share Its EPS Rating is 73. Due to varying update cycles, statistics can display more up-to-date In absolute numbers, HEVs were up 48.2% YoY, an above-average gain in this strong month for the automotive market. But its lead has been slipping. For years now, Tesla has dominated the electric auto market in its home country. Being that China, the EU, and the US are the worlds largest polluters, this growth in EVs is good news. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. In the UnitedStates, the Inflation Reduction Act emphasises the strengthening of domestic supply chains for EVs, EV batteries and battery minerals, laid out in the criteria to qualify for clean vehicle tax credits. The growing Tesla share in the global car market, as well as a fast expansion of other new EV manufacturers, means also that someone is losing traction - the established manufacturers, at least some of them, which are not able to maintain their position for a variety of reasons. 3 ways to reduce invisible labor for women at work, 36 ways to build a family-friendly culture. Teslas market share continued to climb in 2020 with the launch of its second medium-priced vehicle, the Model Y; both are popular Tesla models. Fred is the Editor in Chief and Main Writer at Electrek. Analysis of the AR/VR Value Chain in China: Is China at the forefront of the industry? Thus, the market share of EVs is low, but its early. The IEAs Global EV Outlook 2023 reports that electric car sales grew, despite a shrinking global car market. IEA (2023), Global EV Outlook 2023, IEA, Paris https://www.iea.org/reports/global-ev-outlook-2023, License: CC BY 4.0. Light, durable, quick: I'll never go back. Message Michelle on Twitter or at [emailprotected] Check out her personal blog. Tesla continues to dominate EV sales, with 65.4% of the EV market. Thanks to recent ambitious EU and US government policy programs Europes Fit for 55 package and the USs Inflation Reduction Act, to include the new proposed EPA emissions rule the average share of electric cars in total sales across China, the EU, and the US is set to grow to around 60% in 2030.
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