Kara Carlson’s Post

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

Tesla Inc.’s annual vehicle sales dropped for the first time in more than a decade despite a year-end push that sent deliveries to a record in the fourth quarter. The Elon Musk-led company sold 1.79 million vehicles last year, it said Thursday, which was slightly less than what it delivered in 2023 and also below analysts’ consensus estimate. The results offer a sobering reminder of the real-world challenges for EV makers, even as hype around driverless cars and Musk’s closeness with President-elect Donald Trump have sent Tesla’s stock soaring in recent months. Lukewarm consumer demand is weighing on sales of electric cars, an issue that could be exacerbated by Trump’s push to rein in EV incentives.

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 annual vehicle sales dropped for the first time in more than a decade despite a year-end push that sent deliveries to a record in the fourth quarter. The Elon Musk-led company sold 1.79 million vehicles last year, which was slightly less than what it delivered in 2023 and also below analysts’ consensus estimate. https://lnkd.in/eCrv5GG6

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

💡 While most electric vehicle (EV) manufacturers are experiencing growth, Tesla has encountered unique challenges. In the United States, EV sales increased by 2.6% in the first quarter compared to the same period last year. However, this represents a 15.2% decline from the previous quarter’s sales. 💡 Typically, the first quarter sees the lowest sales figures in the overall vehicle market, trailing the fourth quarter. This trend has not applied to EVs, which have seen consistent quarterly growth since mid-2020. The subdued growth in early 2024 can be attributed primarily to Tesla, the frontrunner in the EV market, which saw a 13% drop in sales during the quarter. 💡 Tesla’s impact on the market is significant, given that it accounts for approximately half of the country’s EV sales. The company has faced several hurdles, notably the underwhelming debut of the Cybertruck and minimally significant updates to its flagship models, the Model Y and Model 3. #electricvehicles #ev #transformation #tesla #ford

U.S. electric vehicle demand continues to surge for most automakers, with 6 out of the 10 largest U.S. EV makers experiencing yoy growth in Q1 2024. Excluding Tesla's Model 3, for which production was impacted by a redesign, and GM's Chevy Bolt, which was discontinued, U.S. EV sales increased 23% yoy. The key to higher EV sales appears to be new, affordable models. At Ridgeline, we continue to be bullish on long-term EV demand and see this as a once in a generation opportunity for the mining sector, to supply the metals needed in EV batteries. #EVs #electricvehicles #batterymetals #lithium #graphite #nickel #cobalt #ridgelineroyalties https://lnkd.in/eNkpNcqY

💡 While most electric vehicle (EV) manufacturers are experiencing growth, Tesla has encountered unique challenges. In the United States, EV sales increased by 2.6% in the first quarter compared to the same period last year. However, this represents a 15.2% decline from the previous quarter’s sales. 💡 Typically, the first quarter sees the lowest sales figures in the overall vehicle market, trailing the fourth quarter. This trend has not applied to EVs, which have seen consistent quarterly growth since mid-2020. The subdued growth in early 2024 can be attributed primarily to Tesla, the frontrunner in the EV market, which saw a 13% drop in sales during the quarter. 💡 Tesla’s impact on the market is significant, given that it accounts for approximately half of the country’s EV sales. The company has faced several hurdles, notably the underwhelming debut of the Cybertruck and minimally significant updates to its flagship models, the Model Y and Model 3. #electricvehicles #ev #transformation #tesla #ford

**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