08:40 AM EDT, 09/08/2025 (MT Newswires) -- Tesla's (TSLA) share of total electric vehicle sales in the US in August has fallen to 38% in August, the first time its market share has dropped below 40% since October 2017, Reuters reported Monday, citing early data from research firm Cox Automotive.

The broader market saw a 14% growth in August, outpacing Tesla's 3.1%, the report said.

The company's market share declined to 42% in July from 48.7% in June, the report said, citing "more complete data" from Cox.

In July, sales of new EVs rose 24% month over month to 128,268, with Tesla sales increasing 7% to 53,816 even as its market share declined, the report said.

Tesla didn't immediately respond with a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)