Globally, Tesla's sales are down 2.3% in the first three quarters of the year, and it needs to deliver a record number of vehicles in the last quarter to avoid its first-ever global sales decline. The company's stock price remains high, driven by investor expectations of favorable policies under a potential Trump administration. However, Tesla faces challenges such as an aging vehicle lineup and competition from new EV models by other automakers. Musk has promised more affordable Tesla models by 2025, but there is skepticism about the timeline and impact of these new releases.
Key takeaways:
- Tesla is offering discounts and cheaper leases to boost sales amid declining U.S. and European orders, despite Elon Musk's previous stance against discounting new vehicles.
- The company's global sales are down 2.3% in the first three quarters of the year, and it needs to deliver a record number of EVs in the last quarter to avoid its first global sales decline.
- Increasing competition from traditional automakers is impacting Tesla's market share, with its U.S. EV sales share expected to drop to 49.5% this year.
- Elon Musk plans to introduce more affordable Tesla models by 2025, but the company's focus remains on autonomous vehicles, with no plans for a $25,000 budget EV.