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Tesla price cuts increase market share domination

Credit: Tesla

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Tesla has made price cuts across its entire lineup this year, effectively waging a “price war” against other automakers. According to new registration data in the U.S., the strategy seems to have boosted overall electric vehicle (EV) sales, with Tesla remaining the dominant market share leader.

As shown in new registration data from Experian, the auto market share of EVs has risen to 7.2 percent this year in the period from January to July, with overall EV registrations jumping to 655,986 total for a 67 percent year-over-year increase (via Automotive News). During the same period, Tesla had 390,377 vehicles registered for a 50-percent jump from 2022, capturing a 59.5-percent share of the EV market.

Following Tesla’s registrations were offerings from Chevrolet (39,647), Ford (33,955), Hyundai (28,198) and BMW (23,116) to make up the rest of the top five registered EV brands in the U.S. Notable EVs sold by Chevy and Ford included the Chevy Bolt EV and Bolt EUV, the brand-new Silverado, the Ford Mustang Mach-E and the F-150 Lightning.

Credit: Automotive News

Credit: Automotive News

The data shows that Model Y registrations reached 236,041 in the seven months, more than double those of last year. Tesla had 131,381 registrations of the Model 3 in the period ending July, ahead of its launch of the forthcoming Highland Model 3. The Model S saw registration figures drop by 51 percent during the same period, landing at just 8,493, while the Model X fell 14 percent to 14,462 registered units.

Tesla cut prices on its vehicles in January, forcing some other automakers to follow suit. J.D. Power guessed that the overall EV market share had jumped to 8.5 percent in July, pointing to Tesla’s price cuts as a major catalyst in making EVs more affordable.

In one index, the organization also compares EVs to gas cars, rating them on a scale of 100 points. J.D. Power VP of EV practice Elizabeth Krear pointed out the price cuts from Tesla as a driver of increased market share in one analysis of the index last month.

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“Affordability remains the highest-scoring factor at 97, driven by aggressive pricing from Tesla,” Krear said. “Although the affordability factor is approaching parity, it is skewed by the premium market, driven largely by Tesla’s 63 percent EV market share.”

It’s worth noting that Tesla doesn’t disclose global sales by region or country, so the Experian data is more of an estimate of sales than anything. In addition, many automakers do not report EV sales separately from their gas cars, and some don’t share their monthly sales.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Elon Musk

Twitter co-founder Jack Dorsey endorses Elon Musk Tesla pay package

Dorsey framed the pay package as an engineering and governance crossroads for Tesla.

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Twitter co-founder and Square CEO Jack Dorsey has publicly backed Elon Musk’s leadership ahead of Tesla’s pivotal shareholder vote, which is expected to be decided later today at the company’s 2025 annual meeting. 

Dorsey framed the pay package as an engineering and governance crossroads for Tesla.

Dorsey’s public nod framed as an engineering defense of Musk

In a post on X, Dorsey weighed in on Tesla’s post about being in a “critical inflection point.” As per the Twitter-co-founder, the vote on Musk’s 2025 performance award is not about compensation. Instead, it’s about ensuring the path for the company’s engineering in the coming years. 

“This is not about compensation. it’s about ensuring a principled (and exciting!) engineering approach to the company’s future,” Dorsey wrote on his post, later stating that users of Cash app with TSLA shares would be able to vote for the CEO’s proposed 2025 performance award. 

Elon Musk appreciated Dorsey’s endorsement, responding to the Twitter co-founder’s post with a heart emoji. Musk has been pretty thankful for the support for is fellow tech executives, also thanking Michael Dell recently, who also advocated for its proposed 2025 performance award.

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Musk’s support

While Elon Musk’s 2025 performance award has received opposition from proxy advisors such as Glass Lewis and ISS, it has received quite a lot of support from longtime bulls such as ARK Invest, and, more recently, Schwab Asset Management following calls from TSLA retail shareholders. 

“Schwab Asset Management’s approach to voting on proxy matters is thorough and deliberate. We utilize a structured process that focuses on protecting and promoting shareholder value. We apply our own internal guidelines and do not rely on recommendations from Glass Lewis or ISS. In accordance with this process, Schwab Asset Management intends to vote in favor of the 2025 CEO performance award proposal. We firmly believe that supporting this proposal aligns both management and shareholder interests, ensuring the best outcome for all parties involved,” Charles Schwab told Teslarati.

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Here’s what changed in the Tesla Cybercab since last year’s unveiling

The latest sightings suggest that the fully autonomous two-seater is now moving closer to production.

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Credit: wudapig/Reddit

An apparent production-ready prototype of the Tesla Cybercab has been spotted testing in public, and it revealed several subtle but notable design updates compared to its 2024 prototype. 

The latest sightings suggest that the fully autonomous two-seater is now moving closer to production.

Subtle design refinements

The new photo of the Cybercab prototype was initially posted on the r/TeslaLounge subreddit, where it proceeded to receive numerous responses. As per the user who posted the image, the photo was taken in California, and the vehicle was reportedly fitted with a steering wheel. 

Based on the image, the Cybercab appears to have received a revised tail design, which now rises slightly, likely to improve aerodynamics. Tesla also appears to have shortened the rear body panel below the lighting section. Other updates include a slightly redesigned rear bumper, red reflectors repositioned farther from the wheel arches, and unpainted side repeater cameras that seemed to have been moved slightly forward, likely for better visibility.

The Cybercab’s B-pillar has also been shifted forward and now sits slightly lower, accompanied by larger door panels that likely make entry and exit easier. The vehicle’s tires are no longer painted either, nor do they have an extended wheel cover. Interestingly enough, the prototype was also fitted with side mirrors, though these are likely just for regulatory testing purposes and would be removed in the vehicle’s final production version.

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An In-and-Out tease

At the end of October, the Tesla AI team teased some of the Cybercab’s progress with a lighthearted “Animal Style” Halloween post featuring the autonomous two-seater being driven through an In-N-Out drive-through by employees in costume. Longtime Tesla watchers noted that the In-and-Out photos continue a long-standing tradition of Tesla driving its prototypes through the fast food chain’s drive-throughs.

The In-and-Out photos of the Cybercab also revealed some updates that have been implemented on the vehicle’s front end. These included what appears to be segmented DRLs and headlamps, actual turn signals, and a splitter that’s a lot sharper. Some noted that the vehicle looks sharper than the prototypes from last year’s We, Robot event, but this also resulted in the Cybercab looking a bit less “Cyber” now.

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Tesla MultiPass in Europe expands, allowing ease of access to non-Tesla chargers

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Credit: TeslaCharging | X

The Tesla MultiPass program in Europe is expanding to new countries. The program was launched earlier this year to assist Tesla owners in having an easier charging experience at non-Tesla EV chargers.

In September, Tesla launched the MultiPass program to owners in the Netherlands, which aimed to enable charging for Tesla owners at third-party stations using the app or keycard. It was developed to avoid having to use multiple apps for each charging manufacturer.

Tesla launches MultiPass to simplify charging at non-Tesla stations

Both access and payment would be performed through the Tesla app, streamlining the entire process.

Today, Tesla expanded the program to Sweden, Germany, the United Kingdom, France, and Belgium, building on its initial rollout and partnering with companies like Fastned to improve EV roaming coverage across the continent.

The program is still in its early stages, and it appears to have some issues, which were highlighted by owners.

Some state that the different designs between chargers can create a bit of a hassle, especially as some do not properly display charging rates and inconsistent pricing displays.

Additionally, Tesla’s Trip Planner and other route planner integrations are not as descriptive as they should be, so some owners suggested reliability and visibility improvements.

Tesla partnered with Electrify America, Rivian’s Adventure Network, and other networks to expand charging availability and make options more readily available.

Tesla’s Supercharger presence in Europe has expanded quite a bit over the past few years, but EVs are much more prevalent there than they are here in the U.S. The company has done a great job of growing the Supercharger presence this year, and there are currently over 11,000 stalls on the continent.

This year, Tesla added 200 total stations and roughly 1,250 total stalls, a 16 percent increase from last year. Europe also has a high concentration of V4 Superchargers, as nearly 42 percent of the stalls on the continent are V4, giving higher charging rates of up to 500 kW.

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