If were talking about an electric vehicle market today, we owe it to Tesla. Without the EV makers pioneering efforts, wed still be talking about the electric shift as a thing of the future.

　　For years, unsurprisingly, the companys market share was massively high - close to 100 percent at the outset, but regularly well over 80 percent even after competing brands started to being electric models to market.

　　But everyone understood that it was inevitable Teslas market share would decline with the arrival of more new EVs. It was an easy mathematical calculation.

　　This year though is the first time were Teslas market share fall below 50 percent in the United States; that happened in the second quarter of this year.

　　Overall, in the second quarter of this year, sales of electric vehicles rose to 8.0 percent of the total market, compared with 7.2 percent for the same period last year. Were talking about a record quarter for the period April 1 to June 30, 2024. Figures were reported by the Cox Automotive Group.

　　Teslas healthy sales, and dropping market share

　　The EV makers share of the market in the U.S. was 82.5 percent in the third quarter of 2019. In 2021, it was 77.5 percent. In Q2 of 2024, it sat at 49.7 percent.

　　During the same period from April 1 to June 30, 2024, however, Tesla delivered 443,956 vehicles worldwide. Thats a little less than for the same period in 2023, but much more than the 386,810 vehicles sold in the first quarter of this year. In the United States, were talking about 164,264 deliveries in the second quarter of 2024.

　　To give you an idea of how dominant Elon Musks company has been and continues to be despite the drop in market share, behind Tesla and its 164,000+ units sold, Ford in second place is way up the track with 23,957 sales. Its market share stands at 7.2 percent, ahead of Kia and Hyundai at 5.4 and 5.1 percent respectively.

　　Nothing to worry about for Tesla, then. But its share of the pie will only continue to shrink with the arrival of other models, notably from General Motors where the roll-out of vehicles built on the Ultium platform continues to accelerate. In fact, Cadillac saw the strongest growth in the second quarter, with a 441 percent jump in sales driven by deliveries of the Lyriq SUV.

　　The bottom line is that the overall electric vehicle market continues to perform well and sales continue to grow, with other automakers slowly gaining market share even as Tesla remains far ahead.