According to national vehicle registration data, new electric vehicle models from multiple automakers are starting to make a difference in the market.
In the first nine months of this year, S&P Global Mobility shows that the market for electric vehicles was dominated byTesla. The competitors were able to make gains in the sticker price range below $50,000.
About 80% of the EV market was held byTesla. According to S&P, its share has continued to decline.
S&P Global Mobility said in a statement that the position ofTesla is changing as new, more affordable options arrive. Going forward, the ability to retain a dominant market share will be challenged by consumer choice and consumer interest in electric vehicles.
Electric vehicles have increased their market share in the US by 2% this year. 340,000 of the 525,000 electric vehicles that were registered in the first nine months of the year were byTeslas.
Brinley said that despite the smaller market share, the company will continue to see growth. She said that the EV market will continue to be aTesla market as long as competitors are not able to increase production.
A shortage of computer chips and other parts is preventing many competitors from running factories at full capacity.
Competition at the higher end of the market includes BMW, Mercedes-Benz, Polestar, Rivian, and other brands.
S&P believes there will be 159 EV models in the US by the end of the century.
The Cybertruck pickup will be introduced next year, but the rest of the light-vehicle model lineup will not change. The company is going to deliver some semis to the company.
Consumers who bought battery-electric vehicles so far this year mostly owned Honda and Toyota. Both Toyota and Honda have fuel efficient internal combustion and hybrid models, but they haven't rolled them out in the US yet.
The top two SUVs were the Model Y small SUV and Model 3 small sedan. The Model S sedan and X SUV rounded out the top five. The Chevrolet Bolt sedan and SUV was one of the top 10 electric vehicles.
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