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On April 17, we wrote in the title of one of our articles “Tesla is in crisis”. Although the situation was worrying at the time, the company managed to start growing again, with a return to sales growth. But Elon Musk's company does not live in a fairy tale, and everything is not all rosy in Uncle Sam's country.
In a recent article, the prestigious New York Times takes stock. The latter is clear, Tesla sells a lot, but the competition even more. One figure alone sums up the situation, Tesla now only represents one in two purchases of electric cars in the United States. If all manufacturers in the world dream of reaching such a market share, this is not the case for Tesla, which was used to aiming higher.
The firm has just fallen below 50% in its history for the first time, and for good reason, Tesla has always represented LAsolution for buying an electric car in Uncle Sam's country. But over the past year, the situation has changed. Tesla is no longer alone in the electric car market, and the competition seems to be doing much better.
A bigger pie
If Tesla's market share today is quoted at 49 %, it was still at 59% last year at the same period. A sign of competition with rapid growth and excessive ambitions. At the same time, and as a Cox Automotive report rightly points out, sales of electric cars have never been so numerous. They increased by 11% over the year 2024.
200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000Another report, published on it by the Alliance for Automotive Innovation, estimates that American citizens now have a market of 113 electric cars. This gives a wide choice and more than one in two customers therefore avoid buying a Tesla, preferring to turn to other brands. Generally, because the vehicles are more affordable, or because the manufacturer's history is more extensive than that of Tesla.
2024 a pivotal year ?
For several experts in the automotive world, Tesla will experience a pivotal year in 2024. After a very complicated first quarter, with sales at their lowest, the company managed to regain control, the share price stabilized around $200 before experiencing a meteoric rise in recent weeks. As of this writing, Tesla shares are trading at $266.12 a share. Its highest rate since September 2023.
The progression of this month of July should reach its peak with Elon Musk's conference on the future of the company still planned for the middle of August. The multi-billionaire is expected to make several major announcements there, including the launch of a robotaxi. It will be interesting to see how these statements will be perceived by investors. The vast majority of them prefer the Model 2 project, a cheap electric car, which Tesla has put on the back burner in favor of these famous robotaxis.
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