Tesla's EV Dominance Slips as Competition Heats Up

Tesla's market share in the US has dropped from 65% in 2022 to 58% in 2023 as competitors ramp up EV production.

Sales of Tesla's higher-end Models S and X have declined significantly while Models 3 and Y have seen growth.

Other automakers like GM, Ford, and Hyundai have seen strong EV sales growth, eating into Tesla's lead.

Tesla spends nothing on advertising while competitors are aggressively marketing their EVs.

With more competition, Tesla may need to innovate and expand its lineup beyond just the Cybertruck to maintain growth.