Tesla Inc.'s (NASDAQ:TSLA) lackluster sales continue to pose a challenge for Elon Musk's EV giant, with the latest data suggesting dwindling market share in the U.S.

Tesla Market Share Reaches Eight-Year Low In The U.S.

The company's total market share in the U.S. EV market is down to below 40% for the first time since October 2017, according to the data obtained by news agency Reuters on Monday. The company currently holds 38% of the EV market in the U.S., the report suggests.

Tesla's sales in August grew 3.1%, a contrast to its 7% growth in July, while the domestic EV market saw a 14% surge in August, the report said. It's worth noting that at one point, Tesla captured over 80% of the market in the U.S.

China, Europe See Sales Decline

Tesla's Trillion-Dollar Pay Package Incites Mixed Reactions

Elsewhere, investment bank Morgan Stanley has termed the compensation award a good deal for Tesla's investors and shareholders, citing that the market opportunity for Tesla in the future through its robotics push exceeds the package by multiple times.

Tesla scores well on Momentum, Growth and Quality metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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