$Tesla (TSLA.US)$ Why Tesla is losing its EV dominance. Ford...
Why Tesla is losing its EV dominance. Ford, General Motors, and Nissan are gunning for Tesla.
Tesla's U.S. EV share subsequently fell from nearly 3/4 of the market in Jan 2022 to just over 1/2 in Jan 2023. Within that same time frame, General Motors' EV market share grew from 0.1% to 9.9%, and Ford's foothold grew to 8.4%.
The pressure on Tesla is one of the factors forcing the carmaker to slash prices again. Tesla marked down its vehicles for the fifth time this year, its latest effort to boost demand and regain lost market share.
"In this EV arms race Tesla needs to defend their turf and customer base with price cuts," Wedbush analyst Dan Ives wrote in an email to Yahoo Finance. "Everyone is trying to catch up. Tesla cutting prices were the near-term pain for long-term gain strategic poker move."
Despite some upbeat outlooks from Wall Street on price cuts and the fact Tesla's stock has been a favorite among investors since the start of the year, shares are still off more than 40% in the past 12 months. That's a much starker decline than competitors Ford and General Motors, with respective one-year drops of 14% and 10%.
The relative underperformance of Tesla's stock proves some investors are looking at its recent price cuts and quarterly delivery miss as a sign of trouble ahead for the electric vehicle maker. And perhaps a sign that mighty Tesla is losing its grip on an industry it has dominated for the last 5 years.
$S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$ $Ford Motor(F.US$ $General Motors(GM.US$ $Nissan Motor (ADR)(NSANY.US$ $NIO Inc(NIO.US$ $BYD Co.(BYDDF.US$ $BYD COMPANY(01211.HK$ $XPeng(XPEV.US$ $Li Auto(LI.US$ $AEM SGD(AWX.SG$ $Rex Intl(5WH.SG$ $RH PetroGas(T13.SG$ $Geo Energy Res(RE4.SG$ $Golden Energy(AUE.SG$
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ZnWC : Quote:
Tesla is dominating the US EV market while other automotive giants like Ford, General Motors, Stellantis, Volkswagen and Hyundai are struggling to provide strong competition...
US EV Sales up by 54.5% YoY in 2022; Tesla Market Share at 50.5%
bullrider_21OP ZnWC: Tesla still dominates. But its market share fell from 75% in Jan 2022 to 50.5% in Jan 2023. Whereas, its competitors gained market share. That's why Tesla is losing EV dominance.
ZnWC bullrider_21OP: It will take a long time to fill the big gap. This is unlike Netflix losing dominance in the media industry.
ZnWC : More accurate data to compare EV dominance.
Quote:
Tesla was the most valuable carmaker worldwide with a market cap of over 569.95 billion U.S. dollars. In terms of market capitalization, the electric automaker zoomed past Toyota in the summer of 2020 and now dwarfs all other competitors...
Market cap of carmakers globally 2023 | Statista
bullrider_21OP ZnWC: That's not a good comparison. Tesla has a PE of 50, much higher than the others. But its revenue is much lower than the others. Because it's very overalued, it's under intense scrutiny. Its market share is certainly falling.
ZnWC : What Are the Limitations of P/E Ratio? | Finance Strategists
ZnWC : I'm not saying that the article you posted is inaccurate. I'm just giving a more balanced view about how we look at EV dominance. This is just my opinion.
bullrider_21OP ZnWC: I'm trying to give a balanced view as there are lots of Tesla bulls here.
ZnWC bullrider_21OP: And lots of bears and shorters too.
bullrider_21OP ZnWC: From the comments, I see many bulls.
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