INSUBCONTINENT EXCLUSIVE:
Tesla, the electric vehicle giant led by Elon Musk, has reported its first annual sales decline in over a decade
The company delivered 1,789,226 vehicles globally in 2024, a 1.1% decrease from 2023.This unexpected downturn marks a significant shift in
the rapidly evolving EV market
performed well in 2024, with a 63% increase throughout the year
Chinese rival BYD experienced remarkable growth in 2024.BYD sold 1.76 million pure electric vehicles, a 12% increase from 2023
sales decline can be attributed to several factors
Pricing pressure persists despite price reductions and buyer incentives.The Evolving Battle for EV Market SupremacyThe company still
represents nearly half of all EV sales in the United States
Tesla is focusing on autonomous driving technology and new vehicle models for future growth.Their brand strength and technological
advancements remain significant assets in the competitive landscape
affordable models, appeals to a broad consumer base
competition and innovation
Both Tesla and BYD will need to adapt to changing consumer preferences and technological advancements.The battle for EV supremacy is far
from over as the market continues to evolve
position it as a strong competitor
The outcome of this rivalry will shape the future of the global EV market.
