True U.S. Electric Vehicle Market Nonexistent Without Tesla

Electric vehicles (EV) might receive significant consumer and media attention, but they only represent a small portion of new-vehicle sales each month. That is expected to dramatically change over the next 5-10 years as OEMs invest their research, development and product planning into electric vehicles. And while EV supply is expected to increase, consumer adoption will dictate how much share EVs can take in the new-vehicle market.

When looking at current EV market landscape, one brand and one model dominate the market: Tesla and specifically the Model 3; without either there is no true EV market in the U.S. this year. But as more models get announced and hit the road like the Audi e-tron and Porsche Taycan, the landscape will shift. But in the meantime, the U.S. EV market is synonymous with Tesla.