Tesla has been synonymous with electric vehicles for more than 15 years, elevating the company’s brand and CEO Elon Musk’s fortune.
But Tesla’s ambitions as an EV-maker are shrinking as it pursues artificial intelligence — and faces the reality of a decreasing share of the car market.
Tesla’s vehicles made up only 38 percent of U.S. electric vehicle sales in August, according to data from Cox Automotive that was first reported by Reuters. Five years ago, Tesla sold more than 80 percent of America’s EVs.
Advertisement
Recent declines have been sharpest, tracking Musk’s plunging political popularity after leading President Donald Trump’s government-slashing efforts. As recently as May, Tesla sold more than half of U.S. EVs.
