Americans registered 11% fewer Teslas in January than they did a year ago, according to new research from S&P Global Mobility. But they registered 44% more electric vehicles (EVs) from some rival brands.
Industry publication Automotive News explains, “Tesla generated 43,411 registrations in January, good for the No. 1 spot among EV brands and a 42.5% market share. But Tesla’s share fell 12 percentage points compared with the same month last year, the data showed.”
S&P’s data could already be outdated, as sales data from Kelley Blue Book parent company Cox Automotive show that Tesla sales had a poor January but a much worse February. Tesla sales may have peaked in February 2023. Last month, the company had its worst sales performance since July 2022.
Tesla sales have fallen off globally as CEO Elon Musk’s involvement in American politics has triggered protests at Tesla dealerships and factories in many countries.
Who’s benefiting? In a separate report, S&P Global Mobility finds that the Hyundai Ioniq 5, Cadillac Lyriq, and GMC Hummer EV were the electric cars most likely to win buyers who bought from a different brand last time they went car shopping.