Reports Suggest Tesla Is Sinking While the EV Market Grows, but There's a Twist

Just two years ago, Tesla was on top of the world, selling the most cars in its history, 1.31 million electric vehicles, fueled by a reduction of its prices. Now, in early 2025, the price of some of Tesla's models are dropping, and the market for pre-owned Teslas is, in the words of Mashable, "cratering." The company's stock price continues to drag as CEO Elon Musk's involvement in the US government as head of DOGE has led to showroom protests and an overseas buyers' backlash. But all the news about Tesla has not slowed down sales for electric vehicles despite indications last year of a plateauing market for EVs. According to Motor Intelligence, 3.2 million hybrid or electric vehicles were sold in 2024, comprising 20 percent of the auto market, a record in the US. Even though 1.9 million of those were hybrids, sales of EVs were solid even amid uncertainty about federal credits and all the bad publicity for Tesla. Ivan Drury, director of insights at the auto online resource company Ed ... Read full article.