45 years of Isuzu in South Africa celebrated
ISUZU Motors South Africa is celebrating its legacy of producing ISUZU bakkies in the country over the past 45 years with the launch of the limited-edition D-MAX 45.
- Product News
- 26 July 2024
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.
Enviro Automotive, an importer and distributor of battery-electric vehicles, has announced the introduction of the trendy Dayun Yuehu S5, a battery-electric mini-SUV.
Zero Carbon Charge calls on President Ramaphosa to announce in his Opening of Parliament Address on Thursday that the new Government of National Unity (GNU) will prioritise the transition to electric vehicles (EVs) and set out measures to do this.
Following extensive investments in 2022 and 2023 into public charging infrastructure, Audi South Africa is at it again.