Tesla is recovering against BYD, its sales are doing better
These figures come at the right time for Tesla so that a mysterious prototype based on the Model 3 seen on the road. The company led by Elon Musk is also preparing to present the Robotaxi at a special eventon October 10.
Tesla still faces challenges
Despite these positive results, challenges remain in terms of growth dynamics. Tesla's market share is also declining in the United States compared to competitors like General Motors or Hyundai. But why are sales increasing in the third quarter of 2024? Chinese subsidies for electric vehicles have notably pushed global sales.
Tesla is also counting on the misfortune of its competitors. According to Automotive Newsthe Stellantis group's global sales fell by 50% in the first half of 20203, representing an adjusted operating loss of $82 million.
The automaker's CEO, Carlos Tavares, attributes these results to an inadequate marketing strategy.
Brussels versus China in the EV market
Reuters explains that the European Union voted to impose tariffs of up to 45% on vehicles produced in China. The measure will come into force next month for five years to counter what Brussels says are unfair subsidies from China.
Germany, on the other hand, opposed this decision since the country maintains close economic ties with the Chinese automobile sector.
As Tesla seeks to maintain its leadership position in the face of to BYD and its low-cost vehiclesthe company must renew its somewhat aging range.
As for other automakers, they are struggling to find their place in a rapidly changing landscape. The intervention of the European Union adds a layer of complexity in a very competitive market.
