Let's start this by being very clear about one thing: (NASDAQ: TSLA) still largely dominates the U.S. electric vehicle (EV) market, and its price cuts have put serious pressure on competitors. However, new vehicle registration data shows Tesla's dominance is slowing a bit and a handful of brands are surging. Here's what investors need to know.

Here are the new EV U.S. registrations for January through October 2023, for any brand that generated over 1% market share. The takeaways are pretty obvious, and Tesla's dominance in market share is clear.

Data source: Experian. Chart by author.

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Source Fool.com