Tesla loses 5% of the electric car market share despite doubling sales

Tesla

Tesla's market share of the electric car market declined by about 5% during the first nine months of 2021, despite its sales increase during the same period by about 98%, as it delivered 627,371 cars.

While Tesla accounted for more than a quarter of all electric vehicle sales worldwide in the first nine months of last year, its market share fell by 5%. 

Traditional car companies have become the biggest threat to the company founded by the world's richest person, Elon Musk.

This comes, while data from the China Passenger Car Association showed the growth in sales of the SAIC-GM-Wuling conglomerate, from the electric car, Wuling Hongguang Mini EV, to 25,6661 units, to become the best-selling car in China, surpassing Tesla, adding to its cumulative sales, which reached Over 400,000 vehicles since its debut in July of 2020.

Tesla

The reason for the car’s popularity is due to its low price, which reaches 10% of the price of the cheapest Tesla models, as the car sells for 4,500 dollars, compared to 45,000 dollars for the Tesla Model 3, but the latter can run three times its Chinese competitor, as well as the difference in size in favor of a car Tesla, according to data prepared by "Statista", and reviewed by "Al Arabiya.net".

This threat reveals the need for Tesla to monitor traditional car companies, which have already taken the transformation steps and most of them have developed strategies to produce hybrid and all-electric cars.

Although Tesla’s head of investor relations, Martin Visha, agreed on this matter, he wrote in a tweet: “We are not playing the role of hunter and prey, in fact, 90% of the cars sold around the world in 2021 are conventional fuel cars, but they have become It loses a significant market share to all players in the electric vehicle sector.”

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