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Despite price cuts, Teva loses its shine in Israel

Despite being the only manufacturer with direct marketing in Israel, Tesla's market share in the country has been steadily declining. In 2021, Tesla held over 60% of the electric vehicle market share, but by 2023, it had fallen to 14% after a price cut. In January-October 2021, Tesla only accounted for 10% of sales in the Israeli electric vehicle market. The decline in market share can be attributed to factors such as limited model offerings and competition from Chinese electric vehicles in the affordable price range. Tesla's delayed launch of a $25,000 model and its thin and remote management strategy in Israel have also contributed to its struggles.

Original article source: https://en.globes.co.il/en/article-despite-price-cuts,-teva-loses-its-shine-in-israel-1001494377
Source Id: 8418619095

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