Automotive Market
Tesla US Sales Plunge After EV Tax Credit Ends, Despite Cheaper Models
Reported by AI Image generated by AI
Tesla's US sales dropped 23% year-over-year to 39,800 vehicles in November 2025—the lowest since January 2022—following the $7,500 federal EV tax credit's expiration on September 30. New Standard variants of Model 3 and Y failed to stem the tide amid a broader 41% EV market decline, though Tesla's share rose to 56.7%.
Imported vehicles, spearheaded by Tesla, are approaching a 20% share of the South Korean automotive market. In response to a domestic sales slump and rising imports, Hyundai is reorganizing its leadership structure. This development highlights growing competition in the local industry.
Reported by AI
Tesla has entered the Colombian market, opening orders for its Model 3 and Model Y electric vehicles at prices starting from $29,400. This marks the company's sixth American market and second in South America. The aggressive pricing positions Tesla to challenge local competitors including Chinese brands and legacy automakers.