Tesla's large dashboard 'impedes driving', stock price plummets due to aging of electric vehicles
As Tesla's stock price fell 5.2% to $166.08 on the 2nd, losing about $30 billion in market value and falling 33% this year, stock market analysts and American media began criticizing Tesla's electric vehicles.
BYD, a Chinese electric car company, announced sales of about 300,000 electric vehicles in the first quarter, a 13% increase from a year ago, and 324,000 plug-in hybrid vehicles, a 15% increase.
GM of the U.S. announced today that its first quarter U.S. sales decreased by 1.5% and that deliveries of battery-powered electric vehicles decreased by one-fifth, to approximately 16,000 units.
Deutsche Bank analyst Emmanuel Rosner said in a report on Tesla's stockpiles, "Vehicle inventories confirm that there may be serious demand issues in addition to known production bottlenecks."
Gene Munster, a manager at Deepwater Asset Management, called Tesla's first quarter results "ugly" and remained optimistic about its long-term outlook, blaming high interest rates and rapidly cooling expectations for electric vehicles. did.
On the other hand, according to Reuters surveys and experts, CEO Musk's persona, tilt toward right-wing politics and polarizing public statements are also turning away some potential Tesla customers in the U.S. "Tesla is facing lawsuits and investigations related to its Autopilot driver assistance system, Reuters “We are facing a variety of image problems, including allegations that we falsified the estimate of the vehicle’s dash mileage, which was first reported by ,” the company said on the 2nd.
The New York Times said the electric car market is evolving in a way that may not be advantageous to Tesla, which has already seen rapid growth with large screens on its dashboards. “It may be rejected due to the unconventional design of the vehicle,” he said, analyzing the reasons for its exclusion from the market.
Tesla electric cars led innovation by being the first to control almost all vehicle functions from a large screen on the dashboard, but it is now pointed out that the large front screen has emerged as an obstacle to driving the vehicle and has become a factor in turning away Tesla-style electric vehicles.
Consumer Reports, in its review of the new version of the Model 3 on the 2nd, pointed out problems with controlling the large screen on the dashboard, saying, “This system is completely distracting from adjusting almost everything in the car while driving down the road.” .
In December of last year, Reuters additionally reported an incident in which Tesla, as an automaker, blamed “drivers” for chronic failures of suspension and steering components, which the automaker had long known to be defective.
Tesla is losing out to Chinese electric vehicles in China, and the market value of smartphone and home appliance manufacturer Xiaomi soared by $4 billion on the 2nd with the launch of its sporty debut car, a cheaper electric vehicle than Tesla's Model 3.
Tesla surpassed BYD, which sold about 300,000 battery electric vehicles (BEVs) in the first quarter, in terms of volume, but the Chinese automaker's growth rate was overwhelming, with global BEV sales in the first quarter increasing by 13% compared to a year ago.
Tesla's inventory surge is due to deliveries in the first quarter of 386,810 units, down 8.5% from a year ago, and actual production of 433,371 units in the first quarter.
Regarding the plunge in Tesla's stock price, the NYT said, "This is due to concerns that the company has lost momentum. In China, Tesla is facing off against BYD and dozens of other rivals with ambitions to expand globally, and in Europe, it is competing with companies such as Volkswagen and BMW." Existing car manufacturers have released more attractive battery-powered models,” he said.
The decline in electric vehicle sales in the United States has already confirmed that the system is not growing as fast as a year ago, and most American buyers are choosing hybrid models that combine gasoline engines, batteries, and electric motors.
Most negative analyzes of Tesla point out that although the company is a pioneer in electric vehicles in the mass market, its ‘lineup aging’ is critical.
Tesla's only new model after 2020 is the Cybertruck, a futuristic pickup it sold in limited quantities last year, but as the cheapest version it will offer this year, the Cybertruck will start at around $80,000, making it unaffordable for most car buyers. It's high enough.
BYD and other Chinese automakers have surpassed Tesla on price by quickly launching new models, and price competition has already proven itself in Europe and Southeast Asia and is crucial to expanding their market dominance in Latin America.
Tesla is competing on price with an electric vehicle in the $25,000 price range, but this model is not expected to be sold in large quantities until 2026.
The main models currently sold by Tesla are absolutely dependent on Model Y and Model 3.
Ford announced on the 3rd that U.S. first-quarter car sales increased 6.8% and sales of its affordable compact pickup truck, the Maverick, surged 82% to 39,061 units.
Maverick, which led to Ford's sales increase, increased demand for hybrids, and Ford saw strong demand for pickup trucks, crossover SUVs, and hybrids.
Ford has expanded production of the Maverick, which starts at $23,815, due to strong demand since late last year.
TMNA North America, Toyota's U.S. subsidiary, announced on the 2nd that first-quarter U.S. auto sales increased by about 20 percent, driven by demand for affordable sedans, crossover SUVs and pickup trucks.
TMNA sold 565,098 units in the first quarter, compared to 469,558 units a year ago, with sales of Land Cruiser, 4Runner, Tundra and Prius models increasing.
In particular, sales of the RAV4 crossover surged 47.4% from a year ago to 124,822 units, becoming TMNA's largest selling model, and sales of electric vehicles, including hybrids, electric vehicles, and Heirdogen fuel cell vehicles, increased by about 74% to 206,850 units. recorded.