Among U.S. electric car buyers, electric car maker tesla is starting to lose market share, with Ford’s Mustang Mach-E the beneficiary.
Morgan Stanley’s analysis shows that Tesla’s share of the U.S. electric vehicle market fell to 69 percent in February, down from 81 percent a year ago.
Morgan Stanley estimates that U.S. electric vehicle sales increased 34 percent in February from a year ago, despite a 5.4 percent decline in sales of conventional vehicles with internal combustion engines.
Tesla only reports global quarterly sales, unlike other car makers who will report monthly or U.S. sales results. But according to Morgan Stanley, Tesla’s February sales increase in the U.S. could be 5.4 percent.
Electric vehicles offered by traditional car manufacturers more than doubled overall U.S. electric vehicle sales to 9,527 units. The Ford Mustang Mach-E, which won the title of best off-road vehicle of the year and has started delivery in late January, sold 3,739 units in February.
Other experts believe that Tesla, which now faces strong competition, is also losing some of its European market share,” said Michelle Krebs, senior analyst at AutoTrader. Tesla used to be the only option. Now it’s not. Tesla’s sales are expected to grow as the market expands, but there will be others who steal its market share.”
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