Tesla Sales Drop, Chinese Competition Rises
Update: 2026-01-02
Description
Teslas annual sales have plummeted for the second consecutive year, with a 15.6% drop in Q4 2022, selling 418,227 vehicles. The decline is attributed to the expiration of the federal tax credit in the U.S. and intense competition from Chinese automakers like BYD, which topped global EV sales with 2.26 million vehicles in 2022. Teslas market share has dwindled in Europe and China, while U.S. competitors are also gaining ground. Despite record sales in Q3, the end of the tax credit led to a sales slump. CEO Elon Musk is shifting focus towards AI and robotics, but electric vehicles remain the primary revenue driver, with $21.2 billion in car sales in Q3 2022. Checkout Solipillow.com
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