Tesla’s share of the EV market plunged to 8.7% year-to-date, from 18.4% last year. Competition is now huge and across the spectrum. Tesla faces the same situation globally.
For automakers, this was a tough market before the Pandemic: decades of stagnation in unit sales, carved up by more competitors, with industry revenue growth by jacking up prices. Then came the Pandemic.
To mark this moment in the history of insane stock prices where a tiny automaker with a global market share of 0.5% and a big loss in 2019 became the most valuable automaker in the world.
