A growing number of competitors are threatening Tesla's global EV dominance and putting it in an unfamiliar position — one of defense.
rates among luxury car names and continues to dominate new EV registrations.
But its market share has declined from 79% of new EVs in 2020 to 65% as of September last year, according to"Tesla's EV-only strategy gives it a retention advantage — as few EV owners have returned to [internal combustion engines]. But as new EVs arrive, loyalty will be tested," theThe most serious threats are coming from EVs priced below $50,000, "where Tesla does not yet truly compete."of $7,500 that kicked in Jan. 1 under the Inflation Reduction Act.
The credit applies to EVs under $55,000, which means models like the higher-end Model 3 Performance now at $53,990 and the long-range all-wheel-drive Model Y at $52,990 could be more attractive.
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