Submitted by Sorin61 t3_z8ib3s in technology
cseckshun t1_iycbsnk wrote
Reply to comment by Toolatetootired in Competitors chip away at Tesla's US electric vehicle share by Sorin61
About 80% in 2018-2020 and then dropped to 71% in 2021 and projected to continue dropping, in the article it says approximately 65% of the electric cars sold in the first 9 months of 2022 were Teslas. That being said the market is also growing so even with rapidly losing market share it’s clear Tesla will see sales continue to grow for the foreseeable future I think.
It wasn’t really close to 100% before (I think 80% is distinct from 100%) and the drop is significant enough that it’s worth calling out, a drop from 80% to 71% market share in a single year is going to make some headlines and then continuing that trend down to an estimated 65% in 2022 is a pretty big 15% drop in market share over just 2 years especially when the market is growing so fast. It means other manufacturers are late to the game but picking up market share even as the market grows which is impressive and something to look out for if you are a Tesla investor since their market valuation seems to be based on electric vehicles growing a lot and Tesla retaining their market share.
Toolatetootired t1_iycz531 wrote
You're right. 80% is significantly different from "Virtually 100%." Thanks for looking that up. I think my point still stands about how much of the market Tesla owns, but I was lazy and overstated the position.
cseckshun t1_iydw7er wrote
I didn’t look it up lol it was in the article with those numbers and pretty much the exact wording. Even the 65% in first 9 months of 2022 is in the article, that’s what the article is about and they give more detail than the headline in the body of the article.
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