Tesla Motors (TSLA) on Watch as EV Sales Stall

Shares of Tesla Motors (NASDAQ: TSLA) are on watch Thursday following reports electric vehicle (EV) sales are hitting a standstill.

The LA Times, citing Edmunds.com research, notes that EV sales are just 3.6% of all new car sales so far in 2014, which is down from 3.7% for 2013. The numbers come despite a robust overall car market. "The whole automobile market has grown," Edmunds senior analyst Jessica Caldwell said. "We're not seeing electric vehicles as part of that growth."

The trend is not likely to reverse later this year. "The latter part of the year, as the weather gets colder, there tends to be more SUV and truck sales," Caldwell said. "So I don’t expect to see a run on electric vehicles."

Shares of Tesla last traded at $282.70, up 0.5%.

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