Core Insights - Electric vehicle sales in the U.S. reached 146,000 units in August, accounting for 9.9% of the automotive market share, marking a new high [1] - Tesla's sales in the U.S. declined by 6.7% year-over-year in August, with its market share dropping to 38%, the lowest in eight years, despite a 5.5% decrease in vehicle prices [1] - The expiration of electric vehicle tax credits at the end of September has driven consumers to purchase vehicles before the deadline, benefiting competitors like Ford, GM, and Hyundai [1] Group 1 - The Inflation Reduction Act signed by President Biden in 2022 allowed consumers to receive up to $7,500 in tax credits for electric vehicles with certain battery mineral requirements [1] - The "Big and Beautiful" tax and spending bill signed by President Trump in July 2023 ended federal tax credits for electric vehicles starting September 30 [1] - Tesla's global sales fell nearly 14% year-over-year in Q2, with similar declines in Q1, facing increasing competition from brands like Chevrolet, Ford, and Hyundai [2] Group 2 - Tesla launched the Model YL in China, a longer version accommodating six people, while a cheaper version of the Model Y is expected to be released in the U.S. after the government electric vehicle subsidies are eliminated [3] - Tesla's recent introduction of the new Model Y Performance in Europe aims to boost sales in that region, where the decline has been more pronounced [2]