Report: Tesla U.S. registrations decline as rival EV brands surge ahead

Tesla is the undoubted leader of the US EV market. However, it has seen its share of the market slip. According to a report by Cox Automobile, the company saw 11 percent fewer registrations in the country in January 2025 compared to the same period last year. The Elon Musk-controlled automaker garnered 43,411 registrations in the first month of the year, snagging just 42.5 percent of the market.

February did not offer Tesla a moment of respite. Data from Cox Automotive shows the EV maker had a worse performance, with only 43,650 registrations in its local market. It was Tesla’s worst monthly performance since July 2022, leading to speculations that its February 2023 sales might be its peak in the US when it sold over 60,000 units.

Other brands have profited at Tesla’s expense. S&P Global Mobility found that EV buyers switching to another brand were most likely to spend on the Hyundai Ioniq 5, Cadillac Lyriq, and the GMC Hummer EV. As a whole, Tesla’s competitors registered 44 percent more EVs in February.

If the sales resurgence in Norway and Sweden is any indication, Tesla could reverse the decline in the US as it starts delivering the new Model Y.