Why did Tesla's US market share hit 8-year low in August?
Tesla's US market share dropped to near eight-year low in August due to increased competition from other EV makers like Hyundai, Honda, Kia and Toyota, Cox Automotive reported. Tesla, which once held over 80% of US EV market, accounted for 38% of total EV sales in the country last month. It held 42% share in July and 48.7% in June.