Tesla Hits Speed Bump: US Sales Plummet to Nearly 4-Year Low Despite Affordable Models

The global EV market is experiencing notable shifts in performance dynamics, reflecting divergent trends across various regions. While Tesla faced significant headwinds in the US market with a notable slump in sales, the broader global outlook for EVs appears much more promising. As highlighted in recent reports, Tesla saw a steep decline in its US registrations, reaching their lowest levels since early 2023 after the expiration of federal EV tax credits. This tax credit lapse played a pivotal role in curbing consumer demand, despite the introduction of more affordable variants of Tesla’s marquee models. In contrast, global EV sales have shown robust growth, surging by 21% year-to-date to 18.5 million units, driven predominantly by surges in sales across Europe and China.