Electric Vehicle Market Growth and Trends

Excluding Tesla, major car manufacturers show significant growth in electric car sales, indicating a declining market share for Tesla.

### Tesla's Dominance in the North American Electric Car Market Challenged by Competing Models
* 📉 Excluding Tesla, major traditional car manufacturers are experiencing **significant growth in electric car sales**, with a growth rate of **56.1%** as of last year.
* 🔮 The trend of new electric car models being introduced by global market leaders like GM and Stellantis is expected to have a **significant impact** on the North American electric vehicle market in the **second half of this year**.
* 🏭 The overall electric car market is expanding with the introduction of various models, leading to **increased demand for batteries**.
* 📈 Despite some temporary setbacks such as Tesla's slow growth and supply chain issues, the overall trend in the electric car market shows **rapid growth for most manufacturers**.
* 🚗 Tesla, which has been leading the market, is facing challenges due to its **limited model lineup** and the entry of mainstream automakers with **diverse electric vehicle offerings**.
* 🔋 The production capacity of major battery manufacturers LG Energy Solution, SK Innovation, and Samsung SDI is being expanded in alignment with the **expected growth in electric vehicle demand** in 2025 and 2026.
* 📊 The growth rate of the U.S. electric vehicle market is expected to **accelerate** as the choice of electric car models **increases**, according to Rivian CEO and industry analysts.

전기차 아닌 테슬라의 부진에 속지 마라! 테슬라 제외한 미국 전기차 5월 판매 56%나 성장! #선대인

선대인경제연구소 유튜브 채널입니다. 방문해주셔서 감사합니다^^

선대인 TV

Declining Tesla Dominance in the Growing North American Electric Car Market

The electric car market is experiencing significant growth, especially in North America, with a steep increase in sales from major traditional car manufacturers, excluding Tesla.

The growth rate for electric cars, excluding Tesla, is at 56.

1%, with the first-quarter sales of companies like Hyundai, Kia, Ford, and others recording a growth rate of over 50%.

Bloomberg reported that the top six electric car sellers in the United States showed a sharp increase in first-quarter sales, indicating a potential decline in Tesla's dominance.

Major car manufacturers have seen a significant increase in electric car sales, with Tesla's growth at 13.

3%, while Volkswagen and GM have experienced declines.

Analysts view this slowdown as temporary, with the overall market showing rapid growth, especially in the U.

Toyota, Kia, Nissan, and the GM Group have seen substantial growth rates, while Tesla and Volkswagen are still experiencing negative growth.

Despite temporary setbacks, the International Energy Agency forecasts a significant increase in sales for the 4th quarter of 2023, projecting continued growth, especially in pure electric vehicles.

Tesla's Current Position in the Electric Car Market

Tesla's overall sales are struggling, except for the gradually increasing sales of the Cybertruck as production ramps up, while traditional car manufacturers are struggling to increase production quickly.

The company's current lineup of only two models, Model Y and Model 3, may not be sufficient to satisfy the diverse range of customers, especially in the North American market dominated by SUVs and pickup trucks.

The entry of mainstream automakers into the electric vehicle market with mid- to low-priced models and diverse designs is expected to inevitably decrease Tesla's market share.

Growth and Competition in the Electric Car Market

The expansion of the electric car market is driven by the release of new models, particularly those using Ultium batteries.

GM's electric car sales are expected to increase with the introduction of six new models, maintaining their annual sales target.

Hyundai-Kia is emerging as a strong competitor, with high sales driven by cost-effective models and a partnership with the Korean battery industry.

Excluding Tesla, the growth rate in the electric vehicle market is at 56.

1%, with the sales volume typically increasing throughout the year and expected to grow further with the introduction of new electric vehicles.

Anticipated Growth in the North American Electric Car Market

Tesla is expected to have a consistent recovery in the second half of the year, potentially contributing to a significant increase in the growth rate of electric cars overall.

The Cathie Wood theory suggests a rapid growth in the North American electric car market, despite potential misunderstandings leading to incorrect interpretations.

Major car manufacturers are expanding their electric car models, leading to an inevitable increase in battery demand, with production capacity aligning with a full swing in electric vehicle sales projected for 2025 and 2026.

Projected Growth of Battery Production for Electric Vehicles

The shipping volume for battery cells is expected to show a slowdown in the first half of 2025, followed by a significant increase, and a skyrocketing trend in 2026.

Major battery cell manufacturers, including SK Innovation and Samsung SDI, are planning to expand operations in 2025 and 2026, with a possible adjustment in the schedule for Samsung SDI.

Despite temporary slowdowns and adjustments, the overall trend in the electric vehicle market is projected to recover and grow, driven by an increasing variety of electric car models and the expansion of the market beyond Tesla's dominance.