Overview

• Cox Automotive’s August data show Tesla at 38% of U.S. EV sales, marking a fresh low as the broader market expands.
• U.S. EV sales rose about 14% in August while Tesla’s growth slowed to roughly 3%, highlighting competitors’ momentum.
• Legacy brands such as Hyundai, Kia, Toyota, Volkswagen, Ford and GM are winning share with newer models and deals, according to Cox’s Stephanie Valdez Streaty.
• Recent results underscore pressure on fundamentals, with Q2 deliveries down nearly 14% to about 384,000, revenue near $22.5 billion and operating income off 42%.
• Analysts tie the share erosion to an aging lineup and Tesla’s push toward AI and robotics, as reports also flag regulatory and legal hurdles for its robotaxi effort.