Tesla’s US sales dropped to their lowest level in nearly four years in November, according to estimates from Cox Automotive.

The company delivered about 39,800 vehicles, down 23% from 51,513 a year earlier.

This drop comes despite Tesla launching cheaper “Standard” versions of the Model Y SUV and Model 3 sedan in October, after the end of a US$7,500 federal EV tax credit in September.

Cox Automotive said that sales of these cheaper models have reduced demand for the more expensive “Premium” versions.

Tesla’s US market share rose to 56.7%, as overall EV sales in the country fell over 41% in November.

Industry analysts said that Tesla faces increasing pressure from competitors launching new, cheaper EVs, and that the company has not released a completely new model since the Cybertruck.

🔗 Source: Reuters

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