Des H Rikhotso (PgDip-BA) (MBL) 🇿🇦’s Post

China's BYD ranked No. 1 in EV sales, with more than 2.2 million vehicles sold between January and August 2024. Elon Musk's Tesla ranked No. 2, with over 1.1 million vehicles sold. Among the top 10 EV sellers, six are Chinese EV companies, and three are German brands.

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

General Motors #battery boss Kurt Kelty will have a big task in today’s Investor Day presentation. The legacy #oem has to pivot away from centering their #electricvehicle product line on their ULTIUM Cells batteries in favor of a multi #batterysupplier approach. Opening the product lineup to different cathode chemistries and form factors should allow a more tailored approach to designing and building #evs in different vehicle segments. All of which is focused on containing costs as GM introduces new EVs in a new vehicle market reeling from recent price hikes. There is no advanced word on the status of GM’s proposed use of #lfp batteries designed by China’s CATL but manufactured by Japan’s TDK. That question must be sorted out rather quickly if GM is going to keep to its schedule for the new Chevrolet Bolt. #automotiveindustry #ev #oemsupplier #tdk #automobilindustrie #cathode #batterymanufacturing #forecasting AutoForecast Solutions LLC Tesla Veteran Is Overhauling GM’s Troubled EV Battery Strategy https://lnkd.in/eNF-nXwV

China's BYD ranked No. 1 in EV sales, with more than 2.2 million vehicles sold between January and August 2024. Elon Musk's Tesla ranked No. 2, with over 1.1 million vehicles sold. Among the top 10 EV sellers, six are Chinese EV companies, and three are German brands. Source: Global Times #EV #electricvehicles #salesvolume

BYD almost surpasses Tesla’s EV sales in Q3 2024/ BYD’s rapid sales growth against Tesla comes in spite of the significantly more challenging trade environment it must navigate. By Stewart Burnett The post BYD almost surpasses Tesla’s EV sales in Q3 2024 appeared first on Automotive World .

The more the merrier. BYD set a new sales record for June, for Q2 and for the first half of the year. We already have strong indication that Tesla sales will be down. The question is just: Did BYD grow BEV sales enough to beat the struggling Tesla sales? We will know tomorrow (if Tesla follows the usual pattern of disclosing quarterly sales on the second day of the next month). But what are the reasons for the very different recent developments of the 2 EV juggernauts? Here is my list: -BYD is lowering prices as agressively as Tesla, but maintaining their profit margins. - BYD has a way wider offering. Various models for almost every taste and life situation. - BYD is way more vertically integrated. They even have their own lithium mines. This will be a big advantage in the long run. And this is the reason why those „employees per car sold“ comparisons are totally bogus. What do you think? Please leave a comment below….

Electric vehicle sales in Australia have hit 70,094 units by the end of September 2024, showing a 6.6% growth compared to last year. While EVs are on the rise, hybrids have grown by 87% and plug-in hybrids by an impressive 120.5%. Tesla continues to lead the market with 30,750 sales, though down 19%, while BYD’s sales have jumped by 37.53%. It’s interesting to see how the landscape is shifting. What are your thoughts on the future of EVs in Australia? #novatedlease #salarypackaging Paywise Garrick Ibbotson Steven Georgiou Peter Antoniazzi

**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

From Jan to June 2024, Non-China Global Electric Vehicle Deliveries Recorded 2.838 Mil Units, a 8.2% YoY Growth - Tesla ranked No. 1 in non-China EV market but still remaining bearish   From Jan to June 2024, the total number of electric vehicles registered in countries around the world except China was approx. 2.838 million units, an 8.2% YoY increase. In the non-China market from Jan to June in 2024, Tesla stayed top on the list although it posted a 7.1% YoY degrowth with a decline in sales of Model 3 and Y. The major reason behind degrowth was a reduction in sales of Model Y in Europe and North America. 

Tesla’s US Market Share Shrinks 33 percent in Two Years as Competition Intensifies At the start of 2024, the term ‘EV winter ‘ – referring to the slowdown faced by the electric vehicle (EV) industry – started getting popularized. Perhaps the most shocking report showing the state of the sector was that Tesla Motors (NASDAQ: TSLA) sold only a single car in South Korea in January of the year. Despite such a reduction in demand, Finbold’s research found that the competition within the industry has only been growing stiffer as Tesla has steadily been losing ground in terms of market share in recent years. Read more: https://lnkd.in/gAbBPk2D