BMW took the crown as Europe’s leading brand for fully electric vehicles for the first time ever in July, driven by demand for its all new iX2 compact crossover. According JATO’s figures, the German premium carmaker sold nearly 14,900 cars in the month powered solely by battery, 300 more than Tesla as volumes for the Model Y dropped off steeply.
August hasn’t been any kinder to Musk in Europe’s largest individual markets. Sales in France fell by half over last year’s month, while in Germany they plunged by two-thirds. While the loss of subsidies and new tariffs on Model 3 sedans imported from China contributed to that poor result, industry analysts fear Tesla is now paying the price for pushing a stale portfolio of vehicles into a stagnant European EV market where consumers are spoiled for choice.
Or an alternative reason: love for Elon Musk has a short shelve life.
The idea that FSD will happen is also getting roundly rejected. My sister was glad her new Hyundai EV is more car than a computer. People are irritated by Musk’s dashboard.
We see ourselves as insulted by Musk. We are done. Tesla can be done. You either honor your clients or you go out of business. Musk is too small to make it. He is not too big to fail.
Agree. No one believes this.
GM keeps losing money, it is FCF negative (-$3.6Billion) and adding to this democrats are making them pay carbon credit $s to Tesla.
Then there are unions. Oh boy.
Carbon credits, but more importantly, selling enough EVs to change them into a profit center.
But beneath the surface, the automaker’s strong financial performance is powered by gas; GM’s quarterly gains were led by its popular SUVs and gas-powered car lines, while producing EVs continues to lose the company money.
This is the first year with new EV models. The power train is built for economically gearing up a line of EVs cars, SUVs and light trucks.
The bugs will be ironed out this year into next.
Over the course of 2025 and 2026, GM’s EV profits will take off while their costs come down. The layout of one power train for all of their models with different battery offerings is a better business model than Tesla’s.
I did not read that word, “variable profit positive”. It means variable costs. Hidden in there sort of.
It is important that the variable costs be covered this year. The rest will follow suit.
Americans are turning to our economy for manufacturing with pride. We are investing in the US. China is falling back. GM’s plan for EVs makes sense and is being executed.
The latest numbers on US voters has a new outlook on the economy. She is now believed in as supporting our economy better than him.
Does GM plan to produce 200000 and 300000 EVs in 2024?
GM CFO Paul Jacobson said Tuesday that GM would trim its targeted production of its new EVs in 2024 from between 200,000 and 300,000 to between 200,000 and 250,000. Jacobson said GM still believes it can be “variable profit positive” on its EVs at the “low 200,000” production range.Jun 11, 2024
The Silicon Valley region once witnessed the highest adoption of Teslas. Now, people there are moving away from the brand.
The first and second wave of Tesla buyers, especially in the Silicon Valley region, weren’t just drawn to the brand’s cool factor, but also its tech-forwardness and climate-conscious appeal. Now, experts suggest that rising competition and CEO Elon Musk’s shift toward far-right politics might be a drag on the brand.