E-cars
End of US subsidies drive Tesla sales into new heights
Donald Trump had the tax credit abolished when buying electric cars. In the long run, this could slow down Tesla’s sales. But at first there was a thrust.
The final sprint in US subsidies for the purchase of electric cars brought Tesla a sales record after months of falling sales. The deliveries of the company led by Elon Musk rose by 7.4 percent to 497,099 vehicles in the past quarter. Analysts had expected an average of around five percent. In the first two quarters of the year, the Tesla deliveries had fallen by around 13 percent each.
Analysts had already assumed that some prospective buyers in the United States will strike at the end of the tax credit of $ 7,500 at the end of September. The majority thought that there would still be a new decline. The question now is what potentially preferred purchases mean for sales in the current quarter and afterwards.
Musk had already said that he was expecting some hard quarters. The tech billionaire has been playing the importance of car sales for the company for a long time. The future of Tesla will be in robot taxis and humanoid robots, he claims. In both areas, however, the group is only at the beginning – and meets a lot of competition.
In total, Tesla built around 4.8 percent less cars with 447,410 cars of all models in the past quarter than a year earlier.
Elon Musk’s politics and more competition
In the first quarter of a year, the transition phase at the bestseller Model Y was considered a reason for the decline in addition to the controversy about political activities by Tesla boss Elon Musk. But even in the second quarter with a stable production of the Model Y, things didn’t go any better.
Tesla meets more and more competition from other manufacturers in the electric car business – while the model range of the pioneer is at least visually changing. In addition, in the important US market, many buyers choose vehicles with hybrid drives or combustion engines. At the same time, the US car companies drove their electric plans back to the big pickups popular in America. Teslas futuristic-looking electro-pickup cybertruck is also not a sales hit.
Further declines at Tesla in Europe
In Europe, Tesla is still on a rapid descent. In August, the new registrations in the European Union fell by 36.6 percent to 8220 vehicles according to figures from the ACEA industry association. In July there was a minus of a good 42 percent. Tesla’s share in the EU car market now fell to 1.2 percent.
According to the Bloomberg financial service, Musk herself took over the supervision of production and sales in Europe in the summer after his long -time confidante Omead Afshar left the company. Tesla has his European plant in Grünheide near Berlin. The group itself does not provide any information on results in individual regions and countries.
Source: Stern
