Tesla's market share will drop significantly

Bank of America said Tesla's share of the U.S. electric vehicle market in 2024 will plummet to 19% from the current 69%.

Bank of America pointed out that 2022 marks the beginning of the commercialization of electric vehicles, many start-up electric vehicle manufacturers will launch or add new products, and many existing car manufacturers will also launch products to launch electric vehicles. At present, traditional car manufacturers such as Volkswagen, Ford, and GM have invested in the military electric vehicle market, while traditional luxury brands such as Audi and Porsche are not far behind, and many rivals will challenge Tesla's dominance.

Bank of America said in a report that by 2024, Tesla's market share in the U.S. will be lower than that of traditional automakers. As Tesla's market share declines, General Motors and Ford will be the biggest winners.