Tesla's US EV market share dips below 50% in Q2 as Ford, Kia, BMW see growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 11 2024
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Source: Yahoo Finance
- Tesla's Market Share Decline: Tesla's share of US EV sales dropped below 50% for the first time, with competitors' offerings impacting its market position.
- Growing Competition in EV Market: Increased competition from brands like Ford, Kia, Hyundai, GM's Cadillac, and Toyota is intensifying the electric vehicle market, leading to price pressure and boosting EV adoption.
Analyst Views on TM
About TM
Toyota Motor Corp is a Japan-based company mainly engaged in the automotive business, as well as financial services and other businesses. It operates through three business segments. The Automotive segment designs, manufactures, and sells automobiles, including sedans, minivans, compact cars, sport utility vehicles (SUVs), and trucks, as well as related parts and accessories. The Financial Services segment provides financing and vehicle leasing services to complement the sales of automobiles and other products manufactured by itself and its affiliates. The Other segment engages in information and communications services. It also oversees manufacturing and sales companies, conducts public relations and research activities, oversees financial companies, and develops various mobility products, primarily software.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
