Tesla has been a stronghold on the electric vehicle (EV) market for over a decade now, but no company can dominate for too long before the competition catches up and tries to dethrone them, and for Tesla, that moment is nigh.

Related: Here's What Happens When A Lamborghini Aventador Takes On A Tesla Model S

Many competing manufacturers have pledged to convert to selling all EVs by a certain date, even the luxury brand Rolls-Royce, which doesn’t compete with Tesla, is working to go all-electric by the end of this decade. Tesla has endured quite a volatile market since the company’s conception, but the brand's stranglehold on the market is slipping, and this might be why buyers will soon be falling out of their fingers.

9 Hyped Cars Failed To Meet Certain Expectations

tesla model s plaid white
Via: Tesla North

The 2022 Tesla Model S Plaid was one of the company's most hyped-up cars, and it is now going down as one of their most overrated. While not a bad car, per se, it did not deliver on many of the promises the company had made about it. For one thing, it did not manage to hit the promised 200 MPH when tested.

Tesla red
Via Tesla.com

Tesla promised to deliver an EV that could hit 200 MPH by this time, but when tested the S Plaid just barely crossed 160 MPH, hitting a top speed of 162 MPH. Also, reviewers reported issues with lane wandering when driving at high speeds.

8 More Companies Have Pledged To Go All-Electric

Tesla Workers together
Via: Ciobulletin

Tesla used to have the market for EVs cornered as Teslas were some of the only EVs that had a range that made them practical driving cars outside dense urban areas. That is no longer the case.

Environmental Concerns Are Helping Nudge People In The Direction Of Electric Cars Already And Mostly Every Carmaker Is Launching Alternatively-Fueled Vehicles
via Quartz

Cars like the Chevy Volt, the Ford F-150 Lighting, even the Mercedes-Benz EQS-Class are all poised to give Tesla a run for their money. Some car manufacturers like Volkswagen and Acura have also pledged to become EV-only manufacturers in a matter of years. Soon, the market will be saturated with EVs and Tesla will no longer be the big kid on the block.

Related: 25 Problems With Tesla Nobody Talks About

7 Depreciating Values Of Old Teslas Are Becoming A Problem

Tesla-model-X-Parked-City
Via Tesla

Because the technology is so new, and therefore not dependable, Teslas and all EVs tend to depreciate at exponentially high rates. After three years of ownership, cars such as the Tesla’s Model S depreciated by nearly 37%, putting them on the higher end of cars with quickly depreciating values.

Tesla Moves From Silicon Valley To Austin
Via Google/ Nikkei Asia

The trend is turning around though. The Tesla Model 3 has retained a huge chunk of its resale value despite the volatile market of used EVs. As EVs become the dominant option of the market, the depreciation problem is likely to fizzle out, but Tesla stockholders should probably be aware.

6 Fluctuations In The Stock Market

Tesla Success
Via: Tesmanian

Speaking of stock, Tesla stock has seen some rough days recently. Although share values for the company are still high, the stock market is still quite merciless sometimes. One day in January 2022, Tesla's stock value fell by almost $100 a share only to rise back to just 1.5% less than its original value that day. It stumbled again recently when Tesla did not do as well in recent Consumer Reports as it was expected to.

Elon Musk
via syfy.com

A common cause for the stock market's volatile response has allegedly been CEO Elon Musks' sometimes erratic behavior. Musk is very unpredictable, particularly on Twitter. When he tweeted about a deal Tesla had allegedly made with Hertz that had not been finalized, Tesla stock took a major hit. Musk was also investigated by federal authorities for how some of his tweets might have affected Tesla's shares.

Related: 10 Things Tesla Employees Aren’t Allowed To Do At Work

5 More Brands Are Releasing Higher-Quality EVs

Elon Musk w white Tesla
via Tesla

Lastly, Tesla is far from the only one in the EV game now. As mentioned above, several makers and manufacturers have pledged to not only enter the EV market but to exclusively make EVs by a set date between now and the 2030s. Plenty of cars are ready to take on Tesla.

Tesla Interior
Via: Tesla

Now that we’ve reviewed why Tesla is about to be dethroned, let’s look at some of the cars that could dethrone them:

4 Rivian R1 T

Front 3/4 view of a black R1T
Rivian

This impressive EV truck will certainly give the hyped-up Tesla Cybertruck and most other Tesla vehicles a healthy market challenge. The machine has a battery range of 314 miles, which is almost as much as your standard Tesla’s.

Rivian R1T pickup
Rivian

The Rivian R1 T can tow over 10,000 lbs, and has an impressive 835 horsepower. The car can fully charge after 13 hours at 220 Volts.

3 Chevy Silverado EV

Blue 2024 Chevrolet Silverado EV RST off-road
Chevrolet

Chevrolet is also taking their trucks and turning them into EVs to update them for the 21st-century market. The first-ever Silverado EV sits on what GM has branded their trademark Ultium platform, a platform built for their new EV operations.

2024-chevrolet-silverado-ev-rst-
Via: Chevrolet

While still in the developing stages, it is poised to be one of the most reliable EVs on the market, at least according to Chevy, who is bragging on their website that the truck will have a range that can carry the EV Silverado from San Francisco to Los Angeles. An EV with such a range would be a game-changer, one that even Tesla hasn’t matched yet.

2 Mustang Mach-E

2022 Mustang Mach-E
Ford

The midsize electric SUV already has a respectable battery range for an EV, coming in between 266 and 300 miles. Although the average Tesla can achieve a range between 300-350 miles, an EV with a 300-mile range has potential, especially with future redesigns.

Mustang-Mach-E_10
Via Ford

The Mach-E also has some classic Mustang features, like an impressive horsepower that can max out at 480. The Mach E is also rather affordable, it starts at around $43,000. Recently, Consumer Reports replaced the Tesla Model 3 with the Mach-E as their top EV pick of 2022.

Related: Auction Dilemma: Ford Mustang Mach-E Vs. Tesla Model Y

1 Chrysler AirFlow

Chrysler Airflow Concept
Via Chrysler

This car is still in its concept phase, but we are already excited about this up and comer with a classic Chrysler nameplate. Since it is still a concept car, speculation about its horsepower and other specs would be premature. The Airflow is a nameplate that Chrysler has not used since the 1940s.

Chrysler Airflow Concept
Via Chrysler

One thing we can say for sure is that Chrysler is claiming the car will have a battery range of 400 miles. If this is true, Tesla is definitely about to lose a huge chunk of the market share as they are the ones marketing their cars as having the longest range.