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Another wave of EV price cuts from 15 automakers According to the China Automobile Network, fifteen different automakers announced their prices for July on the 23rd, triggering yet another round of price reduction. Approaches feature simple price cuts, replacement subsidies, or limited-time discounts of up to 50% (but more often 10%). In Tesla’s case it’s offering a five-year 0% interest plan. Most big cost falls already occurred back in 2023, across multiple industries and supply chains, but the electric vehicle sector isn’t done yet. In the case of this relatively still very new industry, price declines are not just about the massive and excessive expansion of production capacity, it’s also about ongoing qualitative improvements, which continue thick and fast. #EV #electricvehicles #renewableenergy

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 .

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

#Tesla reports record sales in China. #US electric vehicle maker Tesla said on Friday that its #China sales rose 8.8% to a record high of more than 657,000 cars in 2024, as Reuters reported. This strong performance came in a competitive market during a year when its annual global deliveries fell for the first time. Read the full story at https://lnkd.in/dZ2nS_94

Recently, it seems there’s been a lot of doom and gloom around EV sales. Despite ever-dropping prices the market just hasn’t grown the way automakers would like, leading many to shift their priorities to hybrids instead. New data, however, shows that the EV market as a whole isn’t actually suffering. All the problems really come from Tesla. #tesla #makeinindia #investinindia IPQC Consulting Services

DESPITE RECENT WEAKNESS, Tesla IS STILL BEST PLACED TO EMERGE AS THE VICTOR IN THE EV PRICE WAR 📊 Key takeaway: The electric vehicle (EV) industry faces a challenging situation where OEMs are facing demand pressure and are having to reduce prices of vehicles to attract new customers. In this article, we discuss how different EV manufacturers are reacting to this challenge, and where investors should focus. Chinese manufacturers enjoy some advantages in the form of low-cost manufacturing and economies of scale, while legacy auto OEMs are relatively insulated due to their limited exposure to the EV segment. However, we believe that Tesla (TSLA) is best placed to emerge stronger and in a position to consolidate market share at the end of this tough period, given its superior brand, technology, and scale. Smaller and emerging EV manufacturers, on the other hand, are likely to be impacted the most given their lack of scale and a loyal consumer base like TSLA that can help them navigate this tough phase. Contact us for more information: 📧 info@intro-act.com 📞 617-454-1088 🌐 www.intro-act.com #ElectricVehicles #EVMobility #AutomotiveIndustry #TeslaNews #EVMarket #AutomotiveTrends #CleanEnergy #Tesla #TSLA

Cont... EVs The EV bubble has burst. Between 2019 and 2021, the combined market capitalization of Nikola, Fisker, Rivian Automotive, Lucid, NIO, XPeng, Polestar Automotive, Canoo, and Lordstown Motors reached approximately $470 billion. Today, it's down to just $59 billion, marking an 87% decline. Meanwhile, the leading profitable EV manufacturers—Tesla, BYD, and Li Auto—experienced a drop in their peak market valuations from $1.4 trillion to about $900 billion. Elon Musk’s fortunes are likely to improve with the Indian government's new lower tax rate on EVs, a welcome relief for Tesla's high-priced models. However, U.S. investors and fund managers predict that Tesla will export only about 2.2 million units in 2024, a 5% decrease from 2023. This is a significant dip, especially considering Tesla's 50% average annual growth from 2020 to 2023. Notably, Tesla hasn't introduced a new model since 2020. Mercedes-Benz too decided to invest an incredible €14 billion ($A22. 5b) to keep the internal combustion engine (ICE) alive for as long as possible, prompted by declining growth in EV sales. #EVCars #ElectricFailure

🚗⚡ EV market shifts: Tesla slips, legacy brands rise! The EV market saw notable shifts back in October, with new EV registrations climbing 5% to more than 101,000 units, fueled by incentives and stable pricing. But there’s more: 🔹 Tesla’s grip weakens: Tesla still dominates the market but saw a 1.8% dip in registrations compared with a year ago, registering 45,200 units. 🔹 Legacy brands surge: EV registrations outside Tesla grew 11% to 56,203 units, signaling a strong rise for legacy automakers in the EV race. 🔹 Incentives fuel growth: EV discounts reached 14% of transaction prices in November, up from just 5% a year ago, according to J.D. Power. The narrowing price gap between EVs and gas-powered vehicles is making EVs more competitive. 💰 Tax credits in focus: Federal tax credits, a game-changer for buyers, saved EV customers over $5,000 on average this year. A recent J.D. Power survey revealed that tax credits influenced purchase decisions in 2024 even more than vehicle prices. Read the full story on Automotive News: https://hubs.la/Q0310nWl0 #EV #ElectricVehicles #AutoIndustry #AutomotiveIndustry #EVIncentives

Tesla has officially removed its most affordable electric vehicle, the Model 3 Standard Range Rear-Wheel Drive, from its lineup. Priced below $40,000, this version was a key part of Tesla's strategy to make electric vehicles accessible. The discontinuation comes amid increasing competition and fluctuations in sales, prompting Tesla to frequently adjust its pricing strategy. The new base model, the Model 3 RWD Long Range, starts at $42,490 and offers a range of 363 miles, nearly 100 miles more than the discontinued version. Factors such as rising costs of lithium iron phosphate batteries, tariffs on Chinese imports, and supply chain disruptions have contributed to this decision. Despite this move, Tesla hints at a new, more affordable electric vehicle expected in 2025, demonstrating its ongoing commitment to making EVs accessible to a broader audience. #Tesla #Model3 #ElectricVehicles #ElonMusk #EVNews #AutomotiveIndustry #SustainableTransportation #BatteryTech

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.