Tesla Loses Ground to Rivals in China and Emerging Markets as Lack of Cheaper Models Hurts

Tesla has fallen behind in China, the world's biggest EV market, with its market share dropping from 15% to 10% from 2020 to 2022.

Tesla faces steep competition in China from BYD and other local players who benefit from government subsidies.

Tesla's lack of a cheap EV model around $25,000 is hurting it in cost-sensitive markets like China and emerging economies.

Tesla's market share in the U.S. has also trended down from 79% in 2020 to 58% now.

Tesla faces an uphill battle competing in India and other emerging markets where Chinese rivals have an advantage in lower-priced EVs.