Benzinga·2025-07-02 21:03Core Viewpoint - Tesla is experiencing declining demand for its vehicles in the United States due to increased competition from foreign automakers, particularly Hyundai, which is gaining market share in the electric vehicle (EV) segment [1][2][8] Group 1: Tesla's Performance - Tesla reported second-quarter deliveries of 384,122 units, reflecting a 13.5% decrease year-over-year [1] - In 2024, Tesla had the two top-selling EVs in the U.S., but faced challenges as Hyundai's Ioniq 5 became the fourth-best-selling EV with 44,400 units sold, marking a 30.9% increase year-over-year [6] Group 2: Hyundai's Growth - Hyundai achieved record sales in the U.S. with 439,280 vehicles sold in the first half of 2025, representing a 10% increase year-over-year [2][3] - The Ioniq 5 EV had sales of 19,092 units in the first half of the year, up 2% year-over-year, while the Ioniq 9 began deliveries in May with 1,013 units sold [4] - Hyundai's U.S. EV market share reached 4.7% in 2024, trailing only Tesla (48.7%), Ford (7.5%), and Chevrolet (5.2%) [7] Group 3: Competitive Strategies - Hyundai's new EV plant in Georgia has the capacity to produce up to 300,000 vehicles annually, with potential expansion to 500,000 units [4] - The company has been reducing lease prices for the Ioniq 5, making it one of the most affordable EVs on the market, with deals starting at $170 per month [5] - Hyundai's increasing lineup of American-made vehicles and new marketing campaigns are contributing to its growing momentum in the EV market [4][8]