Tesla reported 384,122 deliveries in the second quarter, marking a 13.5 percent decline from the same period last year. This downturn reflects the intensifying competition in the electric vehicle (EV) market, which includes companies like BYD along with traditional automakers such as General Motors and Toyota. Demand for EVs has dropped due to tariff concerns and the anticipated end of the EV tax credit in the U.S. Rival companies, including Volvo and Rivian, also noted significant sales declines, with Volvo reporting a 26 percent drop in fully electric sales and Rivian down by 22.7 percent compared to last year.
Tesla reported 384,122 deliveries in the second quarter, reflecting a 13.5 percent decline compared to the same time last year and illustrating the tough competitive landscape in the EV market.
Demand for electric vehicles has declined due to fears over tariffs and the impending expiration of the EV tax credit, contributing to drops in sales for Tesla, Volvo, and Rivian.
Musk's political involvement has led to increased scrutiny and boycotts against Tesla, exacerbating the company's sales challenges as rival automakers gain ground in the EV sector.
Volvo announced a 26 percent decline in fully electric sales last month, while Rivian reported a 22.7 percent decrease, highlighting a troubling trend for EV manufacturers.
Collection
[
|
...
]