It is pretty clear what is happening: Tesla captured 72% of EV sales in 2021. But only 65% of EV sales in 2022, and it dropped to just 58% in Q2 of 2022. So

It is pretty clear what is happening: Tesla captured 72% of EV sales in 2021. But only 65% of EV sales in 2022, and it dropped to just 58% in Q2 of 2022. So Tesla's market share is dropping pretty rapidly in comparison to its EV competitors. https://www.barrons.com/articles/tesla-lost-market-share-in-q4-51673810443 https://www.barrons.com/articles/tesla-lost-market-share-in-... "Tesla grew 40% in 2022 — selling 1.3 million cars — falling short of the EV industry growth and below its 50% growth target." https://www.forbes.com/sites/petercohan/2023/01/15/how-elon-musk-is-trimming-tesla-margins-and-ceding-market-share-to-ford/?sh=5224285b3528 https://www.forbes.com/sites/petercohan/2023/01/15/how-elon-... Right now it is in the stage where the competitors take big shares out of the market at Tesla's expensive now that there are serious competitors to Tesla both in North America and in China. Not sure when we get to a new equilibrium here.