Tesla has been having some trouble recently. We’ve reported previously about the troubles the EV makers have been facing and the many empty promises its founder has been making, but today, we’re going to make a list of all the factors working against them.
Let’s start with the biggest issue it faces, its sales:
Sales in Europe slumped 40% compared to the sales in the previous February and in Australia, its sales were 72% lower than the same period last year.
In China, where competition is pointedly fierce, Tesla sales dropped 51.5% in January and 49.2% year over year.
The figures are damning, and analysts are predicting that globally the downward trend is the same and that investors should expect the fridge-on-wheels manufacturer to report an overall decline in sales soon.
Secondly, the big Chinese elephant in the room, BYD is kicking Tesla’s metaphorical butt on two fronts: sales and technology.
Tesla has not revealed a single new tech that wasn’t just exaggerations, while BYD has even introduced a battery that charges in 15 minutes.
The two are still neck-and-neck in the fabled self-driving front, so Tesla can breathe a sigh of relief there.
On the sales front, BYD’s sales soared 58% in the first quarter, and annual sales topped USD100 billion for the first time in 2024.
Finally, the musty Musk of it all. The megalomaniacal Musk has courted controversy after controversy as the unofficial co-president of America.
The result of his DOGE campaign and reckless Tweets is a fall in share price of 36% in the first quarter of 2025 and mushrooms of protests against him.
Former owners are making public statements about their cars and encouraging others to sell their vehicles in protest against Elon and we’ve just seeing the beginning of where this is headed.
As it stands today, the trifecta of circumstances is not the death knell for them, though check back in a year to see if that remains true.
