Morgan Stanely is out with a new Autos & Shared Mobility research report for February titled "Feb US Sales: Mustang Mach-E Steals Major Tesla EV Share", stating Tesla's US market share lost ground in February thanks to accelerating Ford Mustang Mach-E sales.
Specifically, Tesla saw its share of the electric vehicle market shrink from 81% in February '20 to 69% in February '21. Tesla still commands 69% of the market share but shows how Ford's electric SUV is attracting EV buyers who would've bought a Tesla.
"BEV sales outgrew the total market by nearly 40% (EV +34% YoY adj. vs. total market -5%). Tesla's share of the BEV market declined significantly to 69% vs. 81% in the prior year. The Ford Mustang Mach-E accounted for nearly 100% of the share loss," Morgan Stanely wrote.
While this is huge news for Ford and its ambitions in the EV space, Morgan Stanely estimated Tesla sales last month around 21,550. Tesla still managed to outsell its competition by a considerable margin.