Overview
- Cox Automotive estimates Tesla sold about 39,800 vehicles in the U.S. in November, down nearly 23% year over year and the lowest monthly total since January 2022.
- Overall U.S. EV sales fell more than 41% in November, lifting Tesla’s market share to roughly 56.7% as rivals declined more steeply.
- Tesla’s October rollout of lower-cost Model 3 and Model Y Standard variants, priced about $5,000 below prior base models, has generated limited new demand and is cannibalizing higher-margin trims, according to Cox.
- In a year-end push, Tesla is offering 0% APR financing for up to 72 months on select Model Y Standard purchases, no-down-payment leases, 2,000 miles of free supercharging with trade-ins, and complimentary upgrades such as premium paint, tow hitches, or 19-inch wheels on some inventory vehicles.
- Global data from Benchmark Mineral Intelligence show November EV registrations rose about 6% to just under 2 million, with Europe expanding, China essentially flat at +3%, and North America down roughly 42% and on track for its first annual decline since 2019.