Tesla is on track for a record quarter, surpassing many legacy carmakers in the U.S., as a Cox Automotive report revealed. Tesla’s results show that the EV maker is gaining market share in the U.S. faster than any other carmaker. Tesla has already surpassed Volkswagen Group in this regard and is threatening Honda’s position.
Many people believed that Tesla’s market share would be eaten by legacy carmakers as soon as they seriously considered selling electric vehicles. This prediction proved wrong, as traditional carmakers struggle with production and supply chain problems. Failing to ramp up EV production, they are losing a lot of money on their EV business, as Ford recently revealed. Sure, they started selling electric vehicles, which somehow diminished Tesla’s piece of the pie in the EV market. But they are losing market share to Tesla in the broader car market.
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