Tesla has been at the forefront of the EV revolution, commanding a significant share of the market for over a decade. In 2024, the company held approximately 18% of the global battery electric vehicle (BEV) market, a slight decrease from its 19% share in 2023. This marginal drop may appear insignificant at first glance, but it signals a growing challenge from competitors.
The U.S. market has traditionally been Tesla’s stronghold, where the company maintained a leading position with an estimated 48.7% share of the EV sector in 2024. This translates to approximately 634,000 vehicles sold during the year. However, this figure represents a decline of nearly 5.6% from the previous year, showing that other automakers are steadily eating into Tesla’s dominance. Legacy brands like General Motors and Ford have made significant progress, capturing 7.5% and 6.8% of the U.S. EV market, respectively.
The declining trend is even more evident in specific regions. In California, which has long been a Tesla stronghold, the company’s market share fell from 60% in 2023 to around 52.5% in 2024. Similarly, in Europe and Australia, sales have stagnated due to increasing competition, alternative EV options, and Tesla’s pricing strategies. These changes indicate that while Tesla remains the leader, the gap between it and its rivals is narrowing.
