Analysis by Morgan Stanley reveals that Tesla is starting to lose market share among US buyers of electric vehicles to Ford’s Mustang Mach-E.
Tesla’s share of the US EV market fell to 69% in February, down from 81% a year ago.
Tesla’s US sales are still climbing, according to this analysis, due to the increased appetite among US car buyers for electric vehicles.
Morgan Stanley estimates that industrywide US EV sales rose 34% in February, compared to a year earlier, even as sales of traditional internal combustion engine vehicles fell by 5.4%.
Tesla (TSLA) reports only global quarterly sales, not monthly or US sales as do many other automakers. Tesla likely enjoyed a 5.4% gain in US sales in February, according to Morgan Stanley’s analysis.
The new electric offerings from traditional automakers resulted in their combined US EV sales more than doubling to 9,527 vehicles.
Ford’s Mach-E, which won SUV of the year honors this year and started deliveries in late January, accounted for 3,739 February sales, according to figures from Ford (F).