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Beware the $TSLA pump and dump — company now relying on batteries from BYD and CATL for survival while Chinese and other EV competition continues to crush the Tesla growth narrative 🤡
In 2024. 9 out of 10 BEVs sold globally are NOT Tesla 🤣 https://t.co/W7HRUZBWCU pic.twitter.com/CuESGxoDT2
— Facts Chaser 🌎 🤦🏻♂️ (@Factschaser) July 2, 2024
The Chinese are making a better car for $20,000 than the one Elon sells for $80,000.
You can do tariffs (like Europe) and just full import bans (like US), but Tesla is not a sustainable company.
Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall.
The Austin, Texas, company said Tuesday that it sold 436,956 vehicles from April through June, down 4.8% from 466,140 sold the same period a year ago. The sales were better than the 436,000 figure that analysts had expected.
Demand for EVs worldwide is slowing, but they’re still growing for most automakers. Tesla, with an aging model lineup and relatively high average selling prices, has struggled more than other manufacturers.
Still it retained the title of the world’s top-selling electric vehicle maker. For the first half of the year, Tesla sold more than 910,000 vehicles worldwide, handily beating China’s BYD, which sold 726,153.
Tesla sales fell for the second straight quarter, marking the first time in the company’s history that sales declined from the previous year for two quarters in a row. $TSLA claims it sold 444,000 units, which when run through the usual Musk 20% fudge factor means ~350,000 🤡 https://t.co/UDHB1yiAOG
— Facts Chaser 🌎 🤦🏻♂️ (@Factschaser) July 2, 2024
🚨 Total shipment of Tesla’s ( $TSLA) China-made vehicles in June declined by 24.2% year-over-year to 71,000 units. BYD sold 340,211 passenger vehicles in June, up 35.2% compared to a year ago. 80% of Teslas shipped are defective, jamming up its notoriously incompetent “service”. https://t.co/7CJXMkGpmo
— Facts Chaser 🌎 🤦🏻♂️ (@Factschaser) July 2, 2024
BYD is now selling nearly as many vehicles in one month as Tesla does in an entire quarter. Liked Toyota, VW, GM, Ford, Stellantis, Hyundai/Kia, Honda, Nissan, BMW, Mercedes, BYD also makes PHEVs which are favored by those who lack convenient charging and drive long distances. https://t.co/Cc8nfyYkvm pic.twitter.com/YvOpMF2tmV
— Facts Chaser 🌎 🤦🏻♂️ (@Factschaser) July 1, 2024
Tesla also sold over 33,000 more vehicles during the second quarter than it produced, which should reduce the company’s inventory on hand at its stores.
Tesla gave no explanation for the sales decline. The company will post second-quarter earnings on 23 July. The electric automaker’s sales decline comes as competition is increasing from legacy and startup automakers, which are trying to nibble away at the company’s market share. Most other automakers will report US sales figures later Tuesday.
The explanation is that people who want EVs are buying Chinese cars.
It’s not really very complicated.
Xiaomi makes a phone that is at least three times the phone that the iPhone 15 is, and they sell it for $700.
This tech war between America and China is the same thing as the war between the Ukraine and Russia: it’s already over, the Americans just haven’t admitted it yet.
Can you even imagine a new car under $10,000 in America? https://t.co/S7Cy61NqGg
— Dylan Digby 🇺🇲 (@dylanjdigby) July 1, 2024
