Tesla (TSLA) Increased US Advantage Over Rivals in December, Citi's Mind Share Tracker Shows

January 25, 2022 6:36 AM EST
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Tesla (NASDAQ: TSLA) has likely seen its advantage over key EV rivals in the US increase in December, according to Citi analyst Itay Michaeli.

The firm’s “mind share” tracker has Tesla at around 52% for December, which is higher than the below 50% print in November. The TTM mind share for December stood at 56%, down from 57% in November and around 90% seen at the start of 2019. Gains made in December were at the expense of EV newcomers, which lost around 3% while traditional automakers were more stable.

“Recall that the need for this arises from the current predicament of the US EV market, where traditional market share metrics do not (and likely will not for some time) paint a complete picture due to numerous constraints. By analyzing web traffic data, our aim is to build a “mind share” tracker that might serve as a leading indicator of future EV market share. Our analysis buckets “mind share” across three categories: Tesla, “EV newcomers” and “traditional automakers”,” explained Michaeli.

Tesla stock price is down 2% in pre-market Monday.

By Senad Karaahmetovic | [email protected]

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