Key Points
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Tesla holds 50.5% of U.S. electric vehicle sales as of Q2 2023.
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Total EV sales in the U.S. dropped by 20% in Q2.
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Tesla’s worldwide deliveries increased by 25% year-over-year, totaling 480,126 units.
Tesla (NASDAQ: TSLA) maintained a 50.5% share of the U.S. electric vehicle market in the second quarter of 2023 despite a 20% overall decline in EV sales. Tesla’s own unit sales decreased by 13%, falling from 143,535 vehicles in Q2 2022 to 124,800 in Q2 2023, according to Cox Automotive.
While Tesla’s deliveries rose to 480,126 units globally, the company continues to lose market share in Europe and China, facing stiff competition from BYD and other local manufacturers. This decline reflects broader challenges within the EV market as domestic competitors struggle more than Tesla.
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