How much of Tesla's sales decline is caused by Musk's big mouth versus
saturation of the luxury market ?
Peri
<< Annoyed by leaf blowers ? https://quietcleanseattle.org/ >>
------ Original Message ------
From: "EV List Lackey via EV" <ev@lists.evdl.org>
To: ev@lists.evdl.org
Cc: "EV List Lackey" <evp...@drmm.net>
Sent: 03-Apr-24 09:40:54
Subject: ***SPAM*** [EVDL] EVLN: Tesla - good news, bad news
The good news: in 2024 Q1, Tesla regained the #1 world EV sales spot from
Chinese automaker BYD. BYD's world sales were down 43% from 2023 Q4, though
they were still up over 13% from 2023 Q1.
The bad news: despite returning to the top EV sales spot, Tesla suffered a
worse than expected decline in sales. Year on year (Q1), their sales were
down about 8%. The drop from 2023 Q4 was 20%.
This is Tesla's first sales decline since the early months of the pandemic.
It's also a larger fall than financial analyists were predicting.
Until now, both BYD and Tesla have gained sales at least in part by cutting
their prices. However, Tesla has recently started raising prices again.
The popular Model Y, for example, is up about $1,000 in the US.
Tesla has previously been uncommonly profitable for a vehicle manufacturer,
so they had room to reduce prices. However, the declining profit margins
have depressed their stock price. Tesla stock has given up about 35% of its
value this year. The stock tumble has toppled Elon Musk from his "I'm the
richest man in the world" pedestal.
It's too early to say whether this is a trend, but EV competition from
established automakers is heating up. This is especially so in Europe and
Asia, where other automakers, and not just Chinese, are already introducing
EVs around and under 25,000 euros (about US$27,000).
Still more affordable EVs are set to arrive, at least outside the US, in
2025. Meanwhile, Tesla has suggested that they won't offer an EV in that
price class until at least 2026.
More details:
https://edition.cnn.com/2024/04/02/business/tesla-sales/index.html
https://www.reuters.com/business/autos-transportation/byd-may-hand-back-top-
ev-seller-title-tesla-after-q1-sales-decline-2024-04-02/
or https://v.gd/LEgDWi
https://www.nytimes.com/2024/04/02/business/tesla-auto-sales-first-
quarter.html
or https://v.gd/UZDUWV
David Roden, EVDL moderator & general lackey
To reach me, don't reply to this message; I won't get it. Use my
offlist address here : http://evdl.org/help/index.html#supt
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
Whereas Socialism, and even capitalism in a more grudging way, have
said to people, "I offer you a good time," Hitler has said to them,
"I offer you struggle, danger and death." As a result, a whole nation
flings itself at his feet.
-- George Orwell
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
_______________________________________________
Address messages to ev@lists.evdl.org
No other addresses in TO and CC fields
HELP: http://www.evdl.org/help/
-------------- next part --------------
An HTML attachment was scrubbed...
URL:
<http://lists.evdl.org/private.cgi/ev-evdl.org/attachments/20240403/bce1f33a/attachment.htm>
_______________________________________________
Address messages to ev@lists.evdl.org
No other addresses in TO and CC fields
HELP: http://www.evdl.org/help/
