AUTO

Ford Mustang Mach-E ‘cut off Tesla sales in the US

Tesla began to lose market share in electric vehicles in the US, and Ford’s Mustang Mach-E appears to be the beneficiary.

Morgan Stanley’s analysis showed that Tesla’s share of the US electric vehicle market dropped to 69% in February, down from 81% a year earlier.

According to this analysis, Tesla’s US sales are still increasing due to the demand for electric vehicles by American car buyers.

Morgan Stanley estimated US electric vehicle sales across the industry to grow 34% in February from the same period a year ago, even as sales of traditional internal combustion engine cars fell 5.4%.

Tesla (TSLA) reports only global quarterly sales, not monthly sales or US sales like many other automakers. Tesla may have achieved a 5.4% increase in US sales in February, according to an analysis by Morgan Stanley.

New electric services from traditional automakers have resulted in their combined electric vehicle sales in the US more than doubling, to 9,527 vehicles.

According to data from Ford (F), their Mach-E won the SUV of the year title and began deliveries at the end of January, accounting for 3,739 vehicles in February.

“Mach-E accounts for nearly 100% of [Tesla] ‘s stock losses,” said Adam Jonas, Morgan Stanley auto analyst.

Other experts say they also believe Tesla is losing a share of the electric vehicle market.

“We’ve been looking forward to this for a while,” said Michelle Krebs, senior analyst at AutoTrader. “Tesla used to be unique. Now not. We expect Tesla sales to increase as the market goes up, but certainly Tesla’s share will be shared.”

A Ford spokesperson did not comment directly on the Morgan Stanley analysis. The company says that 70% of Mach-E buyers are new customers. More than 20% of Mach-E sales come from California, where Tesla is particularly famous.

Tesla is facing competition from automakers such as Porsche, BMW, Audi and Jaguar for its Model S and Model X SUV luxury sedans, along with competition from Chevrolet, Hyundai, Kia, Volkswagen, Nissan and now Ford for the lower priced Model 3 sedan and the Y SUV Model.

Source: CNN, nongnghiep

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