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Tesla’s EV Market Share Hits 8-Year Low Amid Rising Competition
Tesla’s EV Market Share Hits 8-Year Low Amid Rising Competition
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BTCCSquare news:
Tesla's dominance in the U.S. electric vehicle market has eroded to 38% in August, marking its lowest level since 2017. While the company posted a 3% sales increase, the broader EV market grew by 14%, underscoring the accelerating momentum of competitors.
Hyundai, Kia, Toyota, and Volkswagen are gaining traction with aggressive buyer incentives—including free charging and zero-interest loans—just as the federal EV tax credit expires. Tesla's price cuts in China, where it now trails BYD, highlight mounting pressure on its global growth narrative.
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