According to the US investment firm, the latest Morgan Stanley report puts Tesla sales and their effect in focus. According to analysts, the Palo Alto firm is losing market share to its new competitor, the Ford Mustang Mach-E.
According to the study based on sales for February 2021, electric car sales grew by 40% compared to last year in the United States. According to the Wall Street firm, these rising figures are due to the success of the Mustang Mach-E, the latest electric from Ford with which raises the anti-Tesla bet.
For the financial multinational, sales of electric cars exceeded the total market by almost 40% (BEV + 34%, compared to a total market -5%). Tesla’s share of the BEV market decreased significantly to 69% vs. 81% in the previous year. The Ford Mustang Mach-E accounted for almost 100% of the loss in market share.
While this is positive news for Ford and the Mustang Mach-E’s arrival, it remains to be seen if this type of trend continues over time. The new SUV has just hit the market, so it is likely for there to be a lot of initial interest that raises the first reservations’ sales and delivery figures.
These data are not to say that Tesla had a bad February. Morgan Stanley estimated Tesla’s sales last month at 21,550 vehicles compared to 9,527 for all other brands that sell an electric car.
Tesla managed to sell 2.3 times more than the competition combined. Indecisive buyers may have liked the Mustang Mach-E, but there are still many more potential buyers looking in the direction of Tesla.
In general, the electric car has had an extraordinary month of February. Total industry sales fell 5.4% compared to 2020, but at the same time, electric car sales increased by 34%.