Tesla's US market share falls to lowest level since 2017

Tesla's dominance in the US electric vehicle (EV) market is seriously weakening as traditional automakers launch new models and offer attractive promotions.

Tesla dealership in California, USA. (Photo: THX/TTXVN)

New data shows Tesla's market share in August 2025 fell to just 38%, its lowest level since October 2017, when the company began mass production of the Model 3.

Tesla once had more than 80% of the EV market share in the US, but has steadily lost ground in recent months.

In the summer alone, the company's market share fell from 48.7% in June to 42% in July, and now to 38% in August.

While Tesla's sales grew just 3.1% in August, the overall EV market grew 14%, boosted by a $7,500 federal tax incentive and rebates from rival automakers.

The difficulties are not limited to the US. Last July, Tesla sales in Europe plunged 40% compared to the same period last year, marking the seventh consecutive month of decline.

Meanwhile, Chinese carmaker BYD has seen explosive growth, with sales in Europe jumping 225% thanks to showroom expansion and the launch of competitively priced models.

Another reason Tesla is running out of steam is its aging product portfolio. The company’s latest model, the Cybertruck pickup due in 2023, has failed to replicate the success of the Model 3 and Model Y. The recent upgrade of the Model Y has also been disappointing, putting Tesla on track for its second consecutive year of declining sales.

Meanwhile, CEO Elon Musk has focused on ambitious projects like robotaxis and humanoid robots instead of launching a new low-cost mass-market electric car.

Tesla's sky-high market capitalization is now tied to expectations for these projects.

Tesla's board of directors recently proposed a record $1 trillion compensation package for Musk, on the condition that the company reaches a valuation of $8.5 trillion in the next decade./.

According to VNA

Source: https://baothanhhoa.vn/thi-phan-cua-tesla-tai-my-roi-xuong-muc-thap-nhat-ke-tu-nam-2017-260956.htm