Tesla's US Market Share Declines to Lowest Since 2017

Tesla's US market share dropped to a near eight-year low in August as buyers chose electric vehicles from a growing stable of rivals over the aging lineup offered by CEO Elon Musk's company, according to data from research firm Cox Automotive shared exclusively with Reuters.

- REUTERS

The decline highlights the threat from automakers ramping up EV incentives at a difficult time for the industry. Analysts expect an EV sales bump to continue through September in the US, then drop when federal tax credits expire at the end of the month, raising financial pressure on Tesla and other automakers.