Post by account_disabled on Feb 15, 2024 14:50:57 GMT 5.5
2023 shows that operating profits have declined for four consecutive quarters. The growth of the EV market is showing signs of slowing down. and the rise of BYD. its biggest competitor. is also very obvious. as an advantage will be the focus in the future. Tesla's financial report for October to December 2023 released on January 24 showed that operating profit was US2.064 billion. a 47 decrease compared with the same period last year.
The operating profit margin was 8.2. failing to reach the 10 mark regarded as a high profit margin indicator by the automotive industry for three consecutive quarters. Compared with the most recent peak Afghanistan Phone Number List from January to March 2022 19.2. it is less than half the level. Tesla's declining profitability reflects structural changes in the EV market. The first is the rise of Chinese companies. BYD. in particular. is launching an offensive to seize the top spot in global EV sales from Tesla from October to December 2023. Provided by Nikkei Chinese website Tesla improved its main model "Model 3" in September 2023 and launched a de facto price increase.
Prices for the cheapest models increased by more than 10. The move was to improve the profit margins of pure electric vehicles. but it was forced to lower prices again in January 2024. Behind the wavering price strategy is the continuous low-price offensive of Chinese companies led by BYD. Although Tesla pioneered the EV market. it had to follow its competitors in lowering prices in China. In the Chinese market. where EVs account for about 20 of new car sales. Tesla is gradually losing its position as the "price leader" with control over price. Provided by Nikkei Chinese website In terms of on-board batteries. which influence the cost of EVs.