Overview

• Cox Automotive reports Tesla slipped below 40% of U.S. EV sales in August for the first time since October 2017.
• Cox says legacy brands are gaining momentum and projects Tesla’s share to keep easing through September.
• U.S. EV sales rose about 14% in August, while Tesla’s growth slowed to roughly 3.1% as buyers pursued deals before the federal credit expires this month.
• Hyundai, Honda, Kia, Toyota and Volkswagen accelerated sales with newer models and promotions, which Cox’s Stephanie Valdez Streaty says are resonating with shoppers.
• The share pressure follows weaker Q2 results at Tesla, including a nearly 14% drop in deliveries, a 12% revenue decline to $22.5 billion, and a 42% fall in operating income, alongside criticism of its aging lineup and AI-first posture.