EV sales growth has been slowing for a while but in the last two quarters, EV sales didn’t increase much at all, according to estimates from Cox Automotive.
“Looking at the data, the big [EV] slowdown is shaping up to be a Tesla slowdown,” said Valdez Streaty.
Last year, Tesla sales were up 38% compared to 2022, but investors had expected more.
While that’s much less than the roughly 80% of EV sales Tesla accounted for in 2019, according to Edmunds.com, it’s still a majority.
But, if you leave out Tesla, sales of other electric vehicles, as a group, were up 33%.
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