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HomeTechnology NewsTesla is in trouble after a “catastrophic” first quarter

Tesla is in trouble after a “catastrophic” first quarter

Tesla has just released its sales figures for the first quarter of the year. In its report on the subject, the Bloomberg agency notes that the last few months have been very complicated for the brand. Elon Musk’s firm sold 386,810 automobiles during the first 90 days of 2024. This is nearly 100,000 fewer than in the previous period.

This is also the first time that Tesla has sold less than 400,000 cars in a quarter since the summer of 2022. In its financial report, Tesla explains this small form with a “limited production of the Model 3 at the Fremont factory. »: the end of the dream?

Tesla had already coldly announced to its investors that 2024 would not be the year of all records. On the contrary, the automaker expected to see its growth slow down, after exceptional years.

For financial analyst Dan Ives, Tesla’s explanations do not justify the “catastrophic” figures for this last quarter. This Wedbush Securities employee thinks that the arrival of new adversaries would do much more harm to the firm than it wants to admit.

In the United States, Ford is dropping the price of its Mustang Mach-E by $8,000. Another competitor on Uncle Sam’s soil, the Chevy Equinox EV. Produced by General Motors, it should be sold for less than $35,000.

You’re here : all-in in 2025?

The appearance of these competitors as well as the drop in shipments for Tesla could bring the company into a very complicated situation. As the brand’s factories prepare for the arrival of new models in 2025, Tesla will have to tighten its belt.

Internally, many are awaiting the arrival of the hypothetical “Model 2”. With this new electric car in its catalog, Tesla wants to conquer the entry-level market in the United States, but also in Europe.

It should be offered by Elon Musk for less than $25,000 before a possible ecological bonus. Until then, Tesla will have to turn its back and count on the sales of its Model 3, Model S, Model X and Model Y, the latter winning the individual prizes one after the other.

The electric car, a shunned solution

In addition to strong competition coming to the forefront for Tesla, electric car sales are at risk due to a drop in demand. In recent months, customers have become increasingly difficult to find.

Worse still, some owners of electric vehicles return their model and go the opposite way, towards thermal vehicles, which are generally cheaper.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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