Let's be honest: if any car company operating in America could produce a truly compelling, high-spec electric vehicle for well under $30,000, it's Tesla.

In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11.

Elon Musk has finally confirmed that Tesla’s new ‘affordable’ electric car is just going to be the Model Y in a cheaper format. Musk has ended months of speculations and misinformation, which he partly created, about Tesla’s upcoming cheaper electric vehicle model.

Tesla's more affordable model started production in June and is a cheaper Model Y, the company said on its Q2 earnings call.

ET with analyst reactions Shares of Tesla (NASDAQ:TSLA) are straddling the flatline in postmarket trading as the company’s second quarter results were not as bad as Wall Street expected and avoided a second consecutive top- and bottom-line miss with profits in-line with expectations.

Tesla's registrations in the West Coast state fell more than 20% in the second quarter compared with the previous year, according to new data.

Elon Musk warned of difficult times ahead for Tesla Inc. following one of the carmaker’s worst stretches since it first started producing electric sedans over a dozen years ago.

Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.