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Tesla loses EV market dominance, falls below 50% in US [unit sales in 2024Q2]
(www.theregister.com)
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this post was submitted on 11 Jul 2024
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Surprisingly their sales have actually gone down YoY, and considering the hugely growing EV market, that is hard to do.
Idk, the EV market has stagnated quite a bit, which is why used EVs are getting a lot cheaper. They just don't have the range for broad market appeal, so those who want them largely have them.
It's still growing, but a lot of EVs are sitting on the lots longer instead of being a waitlist. Essentially, supply has caught up with demand.
I wouldn't say supply has caught up with demand, there's a lot of other factors that contribute to people WANTING an EV, but being aware that it's not feasible yet for them due to things like average price, charging access issues, etc.
That's a demand issue then. The supply has saturated demand at current prices, so prices need to come down to align with demand at lower price brackets.
But demand is sti higher, it's just mitigating factors, I want an EV but I live in an apartment so I can't easily charge it, so I went with a hybrid instead as an in-between till I own a home and the infrastructure and battery tech improves.