According to industry analysts, Tesla’s share of the EV segment decreased to 52.4 percent in March from 61.5 percent in the same month last year. In 2020, Tesla accounted for 80 percent of electric vehicles sold in the U.S. Although Tesla’s market share declined in March, it still maintains a significant lead over its competitors, both established and new. Below are the March EV registrations in the U.S. by brand.

In March, new Tesla registrations decreased for the second consecutive month. However, the overall battery-electric vehicle segment saw a slight increase, driven by increased sales from Ford, Hyundai, Kia, and other competitors of Tesla.

Tesla’s March registrations fell by 12 percent from the previous year, totaling 50,474. In February, there was a 25 percent drop compared to the same period the previous year.

Despite Tesla’s negative performance in March, total EV registrations rose by 3.8 percent, showing growth in the electric vehicle segment.

Tesla’s share of the EV segment fell to 52.4 percent in March from 61.5 percent in the year-earlier month. During 2020, Tesla accounted for 80 percent of electric vehicles sold in the U.S.

Although the EV market has slowed down from its 52 percent gain in 2023, the emergence of strong competitors to Tesla will force the company to take action. Tesla announced in April that it had increased production of the updated Model 3 despite a limited supply chain in the first quarter.

New Tesla registrations declined for a second consecutive month in March, while the broader battery-electric segment saw a modest increase due to strong performances from Ford, Hyundai, Kia, and other competitors of Tesla.

A resurgence of the Model 3, coupled with new EV launches from competitors, could put the segment back on a growth trajectory.