Cybertruck Key To Tesla Sales Increase
US Tesla sales might fall this year. However, the success of its Cybertruck could keep that from happening. Tesla sold 1.8 million vehicles worldwide last year.
*Tesla’s World
Tesla suffers from an increase in China EV sales, particularly in its home market, which used to be the driver of Tesla’s success. Elon Musk’s company has a Shanghai GigaFactory and can produce as many as 750,000 cars yearly. Some of these can be exported. However, China’s EV giant, BYD, recently took the share of Tesla.
Tesla continues to be successful in the US. It has 49% of the market. It faces competition from some of the world’s largest companies that sell EVs in America. The most successful are Ford, GM, and Hyundai/Kia.
The US market has not been kind enough to pick up EVs. Ford, in particular, has struggled with its F-150 Lightning. Cybertruck has been widely successful, with sales reaching 28,000 through September. This is the case even though it can retail for as much as $100,000.
China Challenge
Industry analysts believe that Tesla must “freshen up” its current cars, some of which have not been updated in over a decade. Musk’s political affiliations may put many buyers off.
Despite Tesla’s challenges, Cybertruck appears to be a runaway success.
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