Tesla Inc.’s U.S. market share has dropped from 80% to about 45% over the past decade, with legacy car companies like Ford and GM gaining a combined 25% share of the EV market. In China, the world’s largest EV market, Tesla ranks seventh.

Tesla’s sales in the U.S. surged in Q3 due to a $7,500 EV tax credit, but profits declined from reduced prices. With the credit gone, EV sales are expected to drop. In the EU, Tesla sales are declining due to competition and backlash from CEO Elon Musk’s activism.

China’s EV market is booming with over 100 brands, leading to a price war affecting market leader BYD. Tesla’s shipments in China dropped 9.9% in October, putting it in seventh place behind BYD. Reasons for poor performance include lack of new models and connectivity.

Tesla’s struggles in China are multifaceted, with factors like lack of new models, connectivity, and self-driving technology being cited. The company faces a long road ahead to address its challenges in the Chinese market.

Read more at Yahoo Finance: Tesla’s China Collapse