Tesla faced another hard quarter and showed a significant decline in global car sales by 13.5%compared to last year. This means the largest annual decline in the company, while supplies fall to approximately 384,000 vehicles, almost 60,000 less than last year. Surprisingly, the CNN report climbed 4% of Tesla shares by reports.
Shares increase despite the historical decline because the results have defeated grim predictions
Why positive reactions? Investors were relieved because many analysts predicted an even steeper decline than what could be seen in the report. This suggests that the market has stiffened by worse results, so the reported immersion, although essential, seems to be a relative victory for giant electric cars that face the challenges they face.
Sales sale is not in vacuum. Tesla’s CEO Elon Muska increasingly loud political attitudes, especially its initial match with former President Trump, have caused extended protests in Tesla showrooms throughout the US and Europe.
Protests and Chinese rivals erode market share around the world
The reports also mention the incidents of vandalism focused on Tesla vehicles, which directly damages the image of the brand. While Tesla does not divide the sale according to the region, the registration data of vehicles strongly indicate a sharp decline in these key western markets. In addition to the political fallout, Tesla faces intensive pressure from the growing competition in electric vehicles, not only from traditional cars such as Volkswagen and Ford, but fundamentally from Chinese rivals such as a resident that becomes a hard competition, at the course of the global sales of ev.
The Chinese car manufacturer has become the worst competitor of Tesla and recently overtaken it as the world’s best seller of clean EV.
Although he did not sell his resident in the US, he announced that he sold a massive 1 million net ev. In the same period, Tesla beats about 721,000 supplies. This competition is particularly wild in China, the largest EV market in the world and the second largest Tesla in the US, where in recent months local brands have been acquired as a Byst. While Tesla’s Q2 sales showed 14.1% improvements, the annual decline and overvoltage signaled the main shift in the global environment of electric vehicles.
(Tagstotranslate) Tesla
