"In 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's. For all-battery electric vehicles (BEVs), BYD seized the crown in Q4 2023. Tesla regained that title in Q1 2024, but could soon lose that again." "Tesla delivered 386,810 vehicles in Q1, far below even the most bearish views. That was down sharply from Q4 2023's record 484,507 EVs and off 8.5% vs. a year earlier." "BYD announced first-quarter sales of 626,236 EVs, including 300,114 passenger BEVs. That was down sharply from Q4's 944,779 but up 13.4% vs. a year earlier. After a dismal start to 2024, BYD sold 302,459 in March alone, including 139,902 BEVs." https://www.investors.com/news/tesla-vs-byd-ev-sales-robotaxis/
Yeah... your point? You quoted exactly what I said. TSLA outsold them by nearly 100K BEV's in Q1. But their Q1 quarterly comp was down 9%. And until BYD sells more (not "may sell more") BEV's than TSLA --> TSLA remains #1 in the world as BEV's go. Once again... case closed.
Tesla will not be number 1 in BEVs at the end of the year based on the projections. And they were not number 1 in Q4 2023. That is the point. Telsa is sinking, revenue dropping, margins narrowing, leadership failing, and inventory increasing. This is not an example of a stock which is a buy. Day trade it, yeah sure. Long term hold. No.
2023 (Full Year) Global: Best-Selling Car Models Worldwide 2023 (January to December): the Tesla Model Y was the top-selling car model worldwide and obviously also the best-selling battery-electric vehicle globally. Despite an increase in sales volume, the Toyota RAV4 slipped from the world’s best-selling car model in 2022 to only second in 2023. It was followed by the evergreen Toyota Corolla.
Yep, mainly due to fleet sales that did not work out. Hertz being a perfect example. You can now buy a used Tesla for just $21,000 thanks to Hertz’s fire sale https://fortune.com/2024/06/07/buy-used-tesla-hertz-fire-sale/ Hertz’s failed bet on EVs is turning out to be a great thing for the savvy used-car buyer. Thanks to an ill-fated plan that included buying a fleet of 100,000 Teslas right after emerging from bankruptcy, car buyers can now find various EVs below $30,0000 through the rental car company’s Hertz Car Sales division, including Teslas for as low as $21,000. (More at the above url)
But do you really want to? https://arstechnica.com/cars/2024/05/used-teslas-are-getting-very-cheap-but-buying-one-can-be-risky/
No, I don't plan to buy a used Tesla. Especially one from a rental car company (as outlined in the article). Considering the headaches my neighbors who bought new Telsa's have endured; I can't imagine buying a used one. No matter how much it was discounted. The reality for Tesla as a company is that this large inventory of used Tesla's on the market undermines the sales of new Tesla's in 2024.
Dude... Hertz's purchase was in late 2021. And even if it was in 2023 lol.... and you subtracted 100K units.... TSLA still beat out Toyota's Rav4... an internal combustion model at that(!)... by 70,000 vehicles. Give up friend... this isn't the politics section where you can get away with opinions. Up here, we're dealing with facts. EDIT: Hertz is buying 100,000 Teslas By Chris Isidore, CNN Business 3 minute read Published 10:55 AM EDT, Mon October 25, 2021 New York CNN Business — Hertz is betting big on electric vehicles. It’s buying 100,000 Teslas, the largest-ever order by a single buyer. The purchase also represents the biggest move into EVs by a rental car company, by far. “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Mark Fields, the interim CEO of Hertz and former CEO of Ford. “The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet.”
As noted in the article from Fortune I posted -- most of the used Tesla's being sold at Hertz are 2022 or 2023 models. A quick glance at Hertz's used cars for sale website appears to show that over 70% of the Teslas are 2023. "Yet Hertz’s misfortune is a dream for used-car buyers looking for a good deal. On the company’s website, potential buyers can find Teslas ranging in price from $21,000 to $36,000, the majority of which are models from 2022 and 2023." The facts once again demonstrate that TSLA stock is not a buy. Telsa is sinking, revenue dropping, margins narrowing, leadership failing, and inventory increasing. From a technical perspective the stock chart shows a bearish descending triangle as @maxinger previously posted. It also may be worth mentioning that the Hertz CEO was sent packing for his failed bet on Tesla EVs.