Tesla’s third-quarter vehicle deliveries of 462,890 fell short of Wall Street expectations, primarily due to increasing competition and changing market dynamics.
Tesla must deliver 516,344 vehicles in the fourth quarter to maintain last year's figures, risking its first annual delivery drop amid stiff competition and market challenges.
The company faced significant competition from rivals like BYD and Xpeng in China, with government subsidies boosting local manufacturers, impacting Tesla's market position.
BMW led the European battery electric vehicle market for the first time, highlighting Tesla's struggles against domestic firms, which have increased their market share significantly.
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