Jim Cramer Says ‘Tesla Has Peaked,’ Elon Musk-Led Company Is Losing Share To Ford – Tesla (NASDAQ:TSLA) | Daily News Byte

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Everyone seems to be asking why Tesla Inc TSLA shares are stuck in a downtrend. Jim Cramer there are answers.

What happened: Cramer believes the prolonged skid in Tesla stock is not because of the CEO Elon Musk has been juggling too many businesses following his Twitter takeover.

“What about the fact that Tesla is starting to lose share,” Cramer said Wednesday morning on CNBC’s “Squawk On The Street.”

Tesla’s success in the electric vehicle market has essentially forced traditional automakers to increase offerings in the burgeoning EV industry. As a result, Tesla’s market share in the US in 2022 will be around 65%, down almost 5% compared to last year, according to a report by Electrek.

Meanwhile, Ford Motor Co’s F EV market share jumped from 1.88% to 5.5%, Cramer said, adding that other automakers are seeing higher market share year over year.

“I think Tesla has peaked in terms of its EV share in this country. We need to start talking about that,” Cramer said.

“I say it’s something to watch. Especially because [of] Ford’s goals.”

Cramer told CNBC, Ford aims to “significantly” increase production of its F-150 Lightning. The Detroit-based automaker can’t produce enough to keep up with demand, he added.

As Tesla continues to cut car prices in China, Ford is raising prices on the F-150 Lightning. Last week, Ford announced a new round of price increases for its flagship electric truck.

See This: As Tesla Expands Discounts In Europe, Rival Ford Raises F-150 Lightning Prices For Third Time Since Launch

Ford can’t keep up with demand, Cramer said: “In part, it’s because the grid is so bad in this country that people are buying F-150s to make it so if the grid goes down, they can light up their house.”

A fully-charged F-150 Lightning with an extended-range battery pack should be able to power an entire house for up to three days, according to Ford.

“People are just talking about Tesla, Twitter. What about Ford,” Cramer said.

F Price Action: Ford is down about 43% since the start of the year.

Ford shares were up 2.14% at $11.72 Wednesday afternoon, according to Benzinga Pro.

Photos: courtesy of Tesla and Ford.

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