Tesla Faces Decline as Non-Tesla EV Sales Surge in US and Europe

Tesla's market share drops amid rising competition and increased incentives for other brands.

US EV registrations rose 9.6% in May 2024, with non-Tesla brands seeing a 39% increase.
Tesla's US registrations fell 15% in May, continuing a four-month decline.
European Tesla registrations dropped 7.2% in June, with a 12% decline for the first half of the year.
Non-Tesla brands like Kia, Rivian, and Hyundai saw significant growth in both the US and Europe.
High incentives, sometimes exceeding $15,000, are driving the overall increase in EV sales.