Tesla’s dominance in the US electric vehicle (EV) market has been well-documented, but recent charts provide a stark visual representation of just how commanding their lead truly is, leaving other automakers in the country with red faces.
For close to a decade, Tesla has been the undisputed kingpin in the US EV market. In fact, it wouldn’t be an exaggeration to say that without Tesla, the US EV landscape would be unrecognizable. For years, Tesla vehicles commanded a staggering 80% share of the market, leaving little room for competitors.
While Tesla’s stranglehold on the market has somewhat loosened in recent years due to the emergence of more EV models from other automakers, it still enjoys a formidable lead. Recently, Reuters unveiled charts based on data from S&P Global Mobility that shed light on EV sales in the US for the current year.
These charts paint a crystal-clear picture of Tesla’s supremacy:
During the first half of 2023, Tesla outsold the combined sales of the next 19 EV competitors.
Admittedly, Tesla does not provide a detailed breakdown of its sales per market, making the 325,000 estimated EV deliveries in the first half of the year subject to a potential 20% margin of error. Nevertheless, even with this consideration, Tesla’s dominance remains impressive.
This dominance becomes even more apparent when examining the breakdown of sales per EV model. A quick glance at the chart is all it takes to see that Tesla is miles ahead of the competition.
While Tesla’s lead in the US market is undeniable, the silver lining for other automakers is that its dominance is less pronounced in markets like Europe and Asia. However, in the United States, Tesla’s position is nothing short of staggering.
Given that electric vehicles are widely regarded as the future of the automotive industry, it is no longer a subject of debate. This should be a cause for grave concern among other automakers unless they can rapidly alter their course in the face of the growing EV adoption trend. Failing to do so may result in a substantial loss of the US market share—a market known for its high profitability.
On a more positive note, there is a glimmer of hope with the imminent arrival of non-Tesla EV models in the US, which should provide some competition. Additionally, Tesla’s decision to open up its Supercharger network to other EVs has been a boon to the broader market. Without this move, Tesla could have very well monopolized the entire EV charging infrastructure.
This gesture underscores Tesla’s unwavering commitment to its mission of expediting the global shift toward electric transportation and renewable energy sources. If their objective had been to solely dominate the electric transport market, they might not have extended this offer, regardless of government incentives.
