David Odejide’s Post

From Jan to July 2024, the total number of electric vehicles registered in countries around the world except China was approx. 3.741 million units, a 4.8% YoY increase. If we look at the number of electric vehicles sold in the world except the China market from Jan to Aug 2024, despite posting a degrowth, Tesla stayed top on the list. Tesla recorded an 8.3% YoY degrowth as the sales of Model 3/Y, which take up about 95% of Tesla’s entire sales, have decreased. It saw a 16.2% YoY decrease in Europe only and an 8.4% YoY decrease in North America.

Tesla, the renowned electric vehicle manufacturer, has introduced a new initiative in China aimed at stimulating automobile purchases by eliminating the need for a down payment. Through this program, customers can purchase pre-constructed Model 3 and Model Y vehicles without a down payment until June 30. Tesla is also offering favorable lending rates, with annualized costs as low as 2.5% for Model 3 buyers. Additionally, buyers of the Model Y can opt for a zero percent interest loan with a minimum down payment of RMB 79,900. This strategic move comes amidst Tesla's efforts to navigate a competitive market environment in China, marked by recent price reductions across all models to maintain competitiveness. #Tesla #ZeroDownPayment #ElectricVehicles #ChinaMarket #SalesBoost

Tesla sold 1% fewer cars than in 2023.  They produce 1,789,226 cars vs 1,808,581 but, the sky stay blue. With this news, $TSLA drops 10% then makes +10% the next day. You have to look behind the numbers. Vehicles delivered 2024. Q1 386,810 Q2 443,956 Q3 462,890 Q4 495,570 (2% more than Q4 2023) The 1st quarter was very bad because of very high interest rates but, we had a nice grow during the year. 20% of profit come now from Energy. In 2023, Tesla sold 14.3 GWh of Megapacks. In 2024 Q1: 4.1 GWh ($403 M$ - 24.6%) Q2: 9.4 GWh ($570 M$ - 24.6%) Q3: 6.9 GWh ($725 M$ - 30.5%) Q4: 11.0 GWh ($1.1 B$ - 30%) Total: 31.4 GWh (+113% vs 2023) Q4 2024 +243% YoY profits 30% vs 20% YoY Despite the 1% drop in sales, the Energy sector should allow to present a nice profits grow during its earnings day on January 22. They are producing these Megapacks in the Texas Giga Factory and, since some days, they can also produce them in their new Shanghai plant. In addition, since November 2023, Tesla has quietly started to produce the new Model Y Juniper. They have just exceeded 600/day. With the refresh of the Model 3 Highland, 6 months ago, that should boost sales in 2025. With the start of robotaxis, $TSLA could be worth $680 by the end of this year. #Tesla #earnings #deliveries #Juniper

In August, Tesla's European sales experienced a significant drop of 36%, continuing a troubling trend for the electric vehicle (EV) market on the continent. Despite efforts by Elon Musk to stimulate demand through price cuts, discount financing, and minor updates to models like the Model 3, European consumers have increasingly turned to rival brands that offer newer models more suited to their preferences and local conditions. The drop in Tesla's sales aligns with a broader decline in the European EV market, reflecting a stagnant overall car market where competition is fierce, and consumer choice is wide. The decline in Tesla's market share, which began in March, has been steady and persistent, raising concerns among automakers about the future of the EV market in Europe. The latest data from the industry association ACEA highlights this ongoing struggle, with Tesla's sales matching the overall downturn in EV demand across Europe.

Tesla, the renowned electric vehicle manufacturer, has introduced a new initiative in China aimed at stimulating automobile purchases by eliminating the need for a down payment. Through this program, customers can purchase pre-constructed Model 3 and Model Y vehicles without a down payment until June 30. Tesla is also offering favorable lending rates, with annualized costs as low as 2.5% for Model 3 buyers. Additionally, buyers of the Model Y can opt for a zero percent interest loan with a minimum down payment of RMB 79,900. This strategic move comes amidst Tesla's efforts to navigate a competitive market environment in China, marked by recent price reductions across all models to maintain competitiveness. #Tesla #ZeroDownPayment #ElectricVehicles #ChinaMarket #SalesBoost

Tesla’s Yearly Sales Fall For The First Time In Over A Decade Tesla Model 3 and Model Y account for over 95% of total global sales in 2024! The global sales of Tesla experienced a fall for the very first time in over a decade. That is a huge deal because the expected growth for EVs was much higher. This is true not just for Tesla, but for every car marque across the globe. We know that 2024 was a year which showcased a slowdown in EV sales in some of the biggest automobile markets including the U.S., China and Europe. As a consequence, the sales reports have been a mixed bag for automobile giants. https://lnkd.in/gjYQtRB2 #tesla #sales #evsales #electriccars #electricvehicles

**Tesla's Profit Falls 45% in Q2 Due to Weak EV Sales** Tesla's profit dropped 45% in the second quarter, driven by weaker-than-expected electric vehicle sales. The company reported a net income of $2.7 billion, down from $4.9 billion in the same period last year. Despite this, Tesla's total revenue increased by 16% to $21.5 billion. The decline in profit was attributed to higher costs and lower-than-expected sales of its luxury vehicles. #Tesla #EVs #AutomotiveIndustry #BusinessNews Source: https://lnkd.in/gMxTDVxE Update Date: 1 hour ago

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.

Tesla (TSLA) sales in Europe are down 14% year-to-date and it’s time to worry Photo: Tesla European automotive sales numbers are out, and Tesla’s sales are down 13.7% year-to-date. It is driving the entire EV market down. If you take Tesla out of the equation, the European EV market is up. The European Automobile Manufacturers’ Association (ACEA) has released its November sales data, which gives us great insight into the https://lnkd.in/gdCKJW-E

Tesla's Model Y continues to lead U.S. EV sales, capturing over a third of the market in Q1. With 96,729 units sold, it commands a 35.4% share, significantly outpacing its closest rivals. Meanwhile, overall EV market share dipped slightly to 7.3%. The industry faces fluctuations but looks towards increased growth with new incentives and infrastructure. #ElectricVehicles #TeslaModelY #EVMarketShare #AutoIndustryTrends https://lnkd.in/e6ajJTAk