After slow but steady sales growth, U.S. electric vehicle registrations jumped 60% in the first quarter of 2022, but total new car registrations fell 18%. This is a sign of domestic acceptance of electric vehicles in the country.
Tesla dominated the U.S. electric vehicle market from the start and continues to this day. However, competition is starting to gain momentum and different companies are introducing new models of electric vehicles into the range of vehicles offered.
Currently, Tesla has 71.4%, Hyundai 9%, Ford 6%, Volkswagen 4.4% and others 9.2% of the EV market. Tesla's share of the EV market has declined, increasing market share for others.
It is true that Tesla has lost market share in the electric vehicle industry but has gained market share in the automotive industry as a whole.