The company logo is pictured on a Tesla Model X electric vehicle in this picture illustration taken in Moscow, Russia July 23, 2020.
REUTERS/Evgenia Novozhenina/File Photo Acquire Licensing RightsOct 12 (Reuters) - Electric vehicle (EV) sales in the United States jumped to more than 300,000 for the first time in the third quarter, but industry leader Tesla's market share slipped to the lowest on record, a report by Cox Automotive showed on Thursday.
"Higher inventory levels, more product availability, and downward pricing pressure have helped spur continued linear growth of EV sales in the U.S. market," Cox said.
The price war started by Tesla has brought average EV prices down to $50,683 in September, down from $52,212 in the prior month, Cox added.
Reuters GraphicsTotal EV sales for the third quarter rose nearly 50% from a year ago, and accounted for a record 7.9% of total industry sales, the report showed.
Persons:
Evgenia, Tesla's, Tesla, Cox, Canalys, Zaheer Kachwala, Devika
Organizations:
Tesla, REUTERS, Cox Automotive, Elon, Reuters, Rivian, Thomson
Locations:
Moscow, Russia, United States, U.S, Bengaluru