Tesla's sales have fallen for the first time in history, leaving many wondering whether billionaire Musk's current political role is the reason?
Billionaire Musk's electric car company Tesla's sales recorded a decline for the first time - Photo: AFP
Tesla - the electric car company of technology billionaire Elon Musk - is witnessing an unprecedented decline in sales in the history of this brand, while other competitors such as China's BYD are quickly taking over the market.
This has led many to wonder whether billionaire Musk's new political role and controversial statements are the reasons why users are no longer interested in this electric car company?
Sales fall for first time
According to CNN on February 18, Tesla recorded its first global sales decline in 2024, down 1% compared to 2023. This number may not be a big deal for other businesses, but compared to a company that recorded record growth of 38% and 40% in the previous two years like Tesla, this is considered an alarming signal.
Besides, Tesla's stock price over the past decade has been largely based on growth expectations, so any sign that the brand is slowing down is worrying.
In the US, Tesla sales fell sharply by 16% from December 2023 to January 2024. While sales declines at the beginning of the year are a familiar trend due to the company’s strategy of boosting sales at the end of the year, the decline is still notable. Tesla’s slowdown reflects growing competitive pressure from other electric car manufacturers.
Tesla not only faces a busy CEO with many large and small companies, now also "encroaching" on the field of American politics, but also faces many challenges from increasingly fierce competition and high car prices.
Established automakers like General Motors, Ford and Volkswagen have launched a slew of new electric vehicles at more competitive prices than Tesla.
Meanwhile, Tesla has made only minor changes to its flagship models such as the Model Y, Model 3, Model X and Model S. The only new model, the Cybertruck, is a niche product with a high price, but sales of this vehicle line remain modest.
Tesla is also under great pressure from Chinese automaker BYD. In the fourth quarter of 2024, BYD surpassed Tesla in global electric vehicle sales and is taking Tesla's market share in China and Europe. Although it has not yet entered the US market, BYD's expansion is a major challenge for Tesla.
Tesla Cybertruck only serves a certain group of customers because of its expensive price - Photo: AFP
Will politics impact Tesla sales?
One of the most controversial issues in recent times is the role of billionaire Elon Musk in the US government. His image appearing next to President Trump at events at the White House has many people wondering whether Mr. Musk's political views affect customers' car purchasing decisions.
Data from S&P Global Mobility shows a decline in Tesla customer loyalty in Democratic-leaning states.
Tesla’s share of customers in these states will fall from 72% to 65% in 2024, while the number in Republican states will increase slightly from 47.6% to 48.2%. This could cause Tesla to lose market share in important markets like California.
In addition, a survey by Morning Consult in February 2024 showed that 32% of car buyers in the US confirmed that they "did not consider" buying a Tesla, up from 27% last year and 17% in 2021.
Still, the percentage of people willing to buy a Tesla has remained steady at 16% over the past four years, suggesting that not all customers are swayed by politics.
The number of used Teslas for sale is also growing rapidly. Data from AutoTrader shows that there were an average of 11,300 used Teslas for sale in the fourth quarter of 2024, up 28% from a year earlier.
While this may be a result of a wave of Tesla purchases in the post-pandemic period, it also raises questions about customer loyalty to the brand.
While there is much debate about the impact of billionaire Musk on Tesla sales, experts say the deciding factors are still price, features and competition from rivals. With competition getting stronger, Tesla will face more challenges if it does not have a new strategy to maintain its leadership in the electric vehicle industry.
Source: https://tuoitre.vn/vi-sao-doanh-so-tesla-sut-giam-chua-tung-co-20250219152531052.htm
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