TECH - Tesla's Dominance To Continue In 2024 But Traditional Automakers' Move To Slow Down EV Game 'Will Come Back To Haunt Them:' Munster | Benzinga

Tesla, Inc. (NASDAQ:TSLA) will continue to rule the U.S. electric vehicle market, according to tech venture capitalist Gene Munster. 

What Happened: Munster, co-founder of Deepwater Asset Management, asserted that recent data from Cox Automotive, indicating Tesla’s 51% market share in the December quarter, solidifies his prediction for the company’s continued success in the U.S. EV market throughout 2024.

Predictions of Tesla losing EV market share are ill-founded, according to Munster. 

“Most investors believe Tesla will lose around 10% share in 2024 given new competitive models are growing faster off a smaller base, making it difficult for Tesla to maintain share,” he said.

“I believe the decision by 4 of the top 6 traditional automakers in 2023 to slow their investment in EVs will come back to haunt them in the form of lost long-term EV market share,” Munster added.