Cars.co.za report offers interesting insights
Cars.co.za recently launched Industry Report 2026 at its DealerCon summit, offers insight into the forces shaping South Africa’s vehicle market.
- Dealer News
- 22 September 2026
Tesla seems to be losing its lead over other vehicle manufacturers in the rush to grow its electric vehicle (EV) market share.
According to a report released by S&P Global Mobility on Tuesday, 29 November, Tesla is losing share to competitors’ models that retail for less than $50 000 (approximately R850 000).
The loss in share comes despite Tesla Inc CEO Elon Musk’s vision of the Model 3 being a “people’s EV”. Currently the Model 3 is retailing for $50 000, while the popular Model Y crossover retails for more than $65 000 (R1.1 million).
According to the report, some of the models retailing at less than $50 000 that are raining on Tesla’s parade include the Ford Mustang Mach-E, Hyundai Ioniq 5, Chevrolet Bolt and Nissan Leaf.
But Tesla is also under fire at the high-end luxury vehicle side of the market.
“Luxury EVs from Mercedes-Benz, BMW, Audi, Polestar, Lucid and Rivian — as well as big-ticket items like the Ford F-150 Lightning, GMC Hummer and Chevrolet Silverado EV [pick-ups] — will plague Tesla at the high end of the market,” says S&P Global.
Currently, Tesla has 65% of the total EV market share in the US followed by Ford (7%), Kia (5%), Hyundai (4%), Chevrolet (4%), Audi (2%), Volkswagen (2%) and Rivian (2%).
In 2020, Tesla’s EV market share was 79% and it is expected that by 2025 it will fall by another 20%, according to the report.
Cars.co.za recently launched Industry Report 2026 at its DealerCon summit, offers insight into the forces shaping South Africa’s vehicle market.
Nissan has introduced the Tekton, a new compact SUV for the South African market. The model is built on the Renault‑Nissan alliance’s CMF‑B platform and is closely related to the Renault Duster, sharing engines and mechanical components.
At the recent DealerCon 2026, hosted by Cars.co.za automotive excellence was celebrated by honouring top executives in the automotive retails industry.
Advertisement
Advertisement
I have bad reflexes. I was once run over by a car being pushed by two guys
Woody Allen
For most of driving history, the sound of excitement has been orchestrated by the internal combustion engine (ICE).
Toyota is sharpening its focus on hydrogen as a practical route to cleaner heavy-duty transport, using IAA Transportation 2026 to showcase new fuel cell technology and partnerships with leading commercial vehicle manufacturers.
To mark World EV Day, Zero Carbon Charge (CHARGE) has launched the N3 EV Real-World Test. The initiative will turn everyday electric vehicle journeys between Johannesburg and Durban into a growing source of real-world data for South African motorists and fleet operators considering the switch to electric.