Abil Hakim’s Post

Tesla's Q3 Sales Surge Signals Potential EV Market Recovery Tesla’s latest quarterly report has injected a dose of optimism into the electric vehicle sector. The EV pioneer saw a 6.4% year-over-year increase in global sales for Q3 2024, delivering 462,890 vehicles from July through September. This marks Tesla’s first quarterly growth in 2024, as reported by The New York Times. Clever Financing Fuels Sales Boost Tesla’s sales resurgence can be partly attributed to its savvy financing strategy. The company offered an enticing 2.5% financing rate to qualified US buyers, significantly undercutting market rates. This move strategically aligned with the Federal Reserve’s decision to slash interest rates by half a […] by Haye Kesteloo #ev #China #ElonMusk #Europe #Ford #Germany #GM #Make #Model3 #ModelY #NewYork #Nio #SEC #Tesla

Bloomberg writes of Tesla's woes that "the results offer a sobering reminder of the real-world challenges for EV makers". Does it though? Department of Transportation data shows that EV sales continue to outperform the previous year. Are consumers looking elsewhere for their EVs? Has the brand suffered? Tired of lining Musk's pockets? Anecdotally, this is definitely true among folks I know. There are also increasingly more options. For example, Ford's electric Mustang SUV crossover outranks all others in safety ratings. I did a test drive - it was amazing. It has an adaptor to work with the supercharge stations. What's not to love? It will be interesting to see what happens with the new administration, and whether the market will be further manipulated. I don't expect we'll see any Chinese EVs (unless you count Chinese-made Teslas) on the US market anytime soon, that's for sure.

Tesla's US Sales Falls Below 50% For The First Time! While US EV sales continue to climb, though at a slower pace than anticipated, Tesla's market share has slipped below the critical 50% mark. According to Cox Automotive Inc.'s latest report, Tesla now holds a 49.7% share of the US EV market, marking the first time it has fallen below half. This decline coincides with a record-breaking quarter for overall EV sales, which reached approximately 8% of the total market, up from 7.2% in the same period last year. #Tesla #EV

Tesla's Q3 2024 results indicate significant traction in China, with a 12% rise in EV sales and a 19.2% year-over-year increase in September. The company's domestic sales reached 72,000 units, marking a substantial 66% growth. Notably, Tesla's recent financing offers on Model 3 and Model Y aim to maintain this momentum into Q4. As the Q3 earnings call approaches on October 23, the market will closely watch for updates on production strategies and sales forecasts. #TeslaChina #EVSales #ElectricVehicles #AutomotiveIndustry #SustainableEnergy #Q32024 #Model3 #ModelY https://lnkd.in/e7rQnM4x

Tesla with double-digit profit margin again in Q3 2024. Yes, and it's still alive! 10.8% profit 25.1 billion dollars in sales (up 8%) 17% increase in net profit compared to the same period last year   Also pleasing registrations of electric cars in Europe rose by 9.8% in September. Purely battery electric cars thus accounted for 17.3% (up 2.5%) of the EU car market. P.S. I like Tesla not Elon https://lnkd.in/dmteC_KD https://lnkd.in/dPCA6Ujv #electric #vehicle #growth

Tesla reported a dip in full-year auto sales Thursday, missing a company forecast in a sign of rising electric vehicle competition in China and other markets. Elon Musk’s EV company reported 495,570 fourth-quarter deliveries. While that represented a quarterly record, it lagged Wall Street estimates and resulted in full year-sales of just under 1.8 million vehicles. This was around one per cent less than the 2023 sales, even as Tesla said in October that it expected “slight growth” in vehicle deliveries for the year. Read more: https://lnkd.in/eg2QUGdE

First quarter #EV sales growth slowed to 2% compared to last year but is 71% higher than in 2022 and 170% higher than in 2021. It's all how we slice and dice. Meanwhile, overall car sales increased 7% in Q1 compared to Q1 last year. But consider this: #Tesla represents the majority of EV sales, and its sales slump, driven by production delays on the new Highland Model 3, is weighing things down. Removing Tesla's Q1 sales from the data, all the other automakers saw a 24% increase in EV sales in Q1, vastly outperforming gas cars. At this point in the transition, Tesla must stay strong, and, more importantly, legacy car companies must begin to succeed at scale. My takeaway is that the EV market revs on at a temporarily slower pace as automakers pivot from early adopters to mass-market consumer needs and expectations, including Tesla's Model 3 revamp. I'll wager sales pick up in Q2, and we will end 2024 with 35+% year-over-year EV growth despite anti-EV political theater and Supercharger network concerns, given the roughly 40% of consumers who surveys repeatedly show definitely buying or seriously considering an EV for their next car. Does anyone want to take that bet? You can see more Q1 sales data slicing and dicing from CleanTechnica here: https://lnkd.in/dNdcB8H4 #electricvehicles #cars #transportation #cleanenergygeneration #climateaction

And Q1 EV sales came in at ... what? 2%. The author tries to hide the fact by claiming that circumstantially the EV market is healthy except for Tesla and GM. Except that Tesla is 53% of the market or was 63% of the market in 2023, and the others have less than 10% each. So what happens to Tesla's sales have an outsized impact not because of its delta.

While the broader economic environment proved highly favorable for auto sales in Q2 (beyond EVs, but EVs included), as seen in sales numbers from several BEV and legacy players, today's report shows #Tesla kept on sacrificing margins to get the revenues flowing. We expected the several cost-cutting measures taken throughout the quarter to have a greater impact on the company's broader operation. However, that's far from what happened, indicating that further adjustments from the operational side will be needed to keep the company in a competitive position in the quarters ahead. As we shift towards a faster-growth environment in the second half of the year, where competition will keep on bridging a progressively smaller technological gap between EV peers, Tesla will need more of that #Musk magic to get the innovation it needs sooner than later. Perhaps more than ever in recent history, Tesla's investors are in need for fast innovation. This will need to come in part from the humanoid robot and Robotaxi but, mainly, from leaner, better-positioned entry-level models that can actually give the public what they want at better margins. Read all about Tesla's Q2 report on Investing.com https://lnkd.in/dfjadS5i

It's been a rollercoaster year for Tesla, after a tough sales start to the year, the EV maker has said it still expected "slight" growth in vehicle deliveries for 2024, and was pushing a number of end of year deals to help it achieve that. This morning Tesla reported its fourth quarter and annual delivery numbers , the EV maker, saying it sold a record 495,570 vehicles in the fourth quarter, a new quarterly record. But, the number missed both analyst estimates and the nearly 515,000 vehicles the company would have needed to deliver to maintain annual growth for 2024. In total, Tesla said it sold 1.79 million vehicles last year, down from about 1.8 million vehicles in 2023, the first annual decline in over a decade for the EV maker. More on Bloomberg News https://lnkd.in/gEKnkxxg