Analysis by Morgan Stanley shows that Tesla’s share of the US EV market fell to 69% in February from 81% a year earlier.
U.S. for electric vehicles Tesla’s U.S. sales are still rising, according to the analysis, due to an increase in appetite among car buyers. According to the analysis, Morgan Stanley estimates that industry-wide U.S. EV sales rose 34% in February from a year earlier, while sales of conventional internal combustion engine vehicles fell 5.4%.
Tesla (TSLA) Reports global quarterly sales, not monthly or U.S. sales like other global manufacturers. Tesla reported a 4.4% gain in U.S. sales in February, according to Morgan Stanley’s analysis.
New electric inings from traditional auto tomers have resulted in their U.S. EVs sold more than double the 9,527 vehicles. And Ford’s M-E, which won the Honor SUV this year and began deliveries in late January, accounted for 73,739 shares of February sales, according to the figures. Ford (F).
“Mach-Eno has about 100% stake [Tesla] Share losses, ”said Adam Jonas, auto toe analyst at Morgan Stanley, in a note earlier this week.
Other experts said they also believe Tesla is losing some of its share of the EV market.
“We’ve been expecting this for some time,” said Michelle Krebs, senior analyst at WeTrader. “Tesla was the only sport in the city. Now it’s not. We expect the market to grow as Tesla’s sales increase, but so does Tesla’s market share.”
Ford spokesman Morgan Stanley will not comment directly on the analysis. The company said 70% of Mach-E buyers were new to Ford, making the car more valuable to the auto toe manufacturer. Mach-Ena has more than 20% sales in California, where Tesla is particularly popular.
Tesla is facing competition from auto tomakers like Porsche, BMW, Udi D and Jaguar for its luxury Model Dell S sedan and Model X SUV, along with Chevrolet, Hyundai, Kia, Volkswagen, Nissan and now Ford for its low priced M3 model. There is competition. Model Y SUV.
But the Model & and Dell Y are now the mainstay of Tesla’s sales, accounting for about 90% of its global sales in the fourth quarter.
Tesla did not respond to a request for comment on Morgan Stanley’s analysis.
Tesla has already fallen behind Volkswagen (VLKF), The world’s No. 2 automaker in sales of electric vehicles in many European markets, including Norway, where EVs now account for most new vehicle sales.
And she is facing new competition General Motors (G.M.)Which is his U.S. EV, Chevrolet has just released a compact SUV version of the Bolt. With the new version of the existing Bolt hatchback, the Bolt UV will go on sale in early summer. Both will cost less than the Model 3 and Model Y.
And this is the beginning of a new wave of EVs promised by traditional auto tomers in the years to come. Volvo announced this week that it would offer only electric vehicles by 2030, while Ford said it would sell only electric passenger cars in Europe by 2030. GMA said it expects to sell only emission-free vehicles by 2035.
Aggressive targets on electric vehicles have been linked to stricter environmental regulations around the world as well as EVs among buyers. The growing appetite for is driven by both.
And although EVs are now more expensive than comparable gasoline-powered engines, the improvement in scale economy will reduce the cost of parts, including larger batteries, It is less expensive and thus more profitable to make EV. Electric vehicles have fewer moving parts and, according to an Ford estimate, require 30% fewer hours of labor to assemble than conventional cars.
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