Tesla Leads EV Market Share, But Rivals’ Cheaper Models Are Gaining

Tesla currently leads the EV market in the US by a wide margin, but automakers are catching up. The main reason people are likely to choose rivals’ EVs over Tesla’s models is the price. Tesla currently competes in the ‘luxury’ EV space and doesn’t offer ‘cheap’ electric cars. However, as more affordable options come to market that are also compelling in so many ways, the brand may have to strongly consider producing EVs for the masses. About 525,000 EVs were registered in the States over the course of the first three quarters of 2022, and some 340,000 of those vehicles were produced by Tesla. Tesla’s four models are all among the top five electric vehicles sold in the U.S. over the first . . .