Now that the general EV market slowdown has been attested by Tesla and BYD's most recent sales results, everyone and their mother are wondering what will happen with the incipient 2020s zero emissions vehicle revolution.
Not long ago, Tesla announced a humongous milestone for a former startup – it produced six million EVs, and the result came just six months after building the five-millionth vehicle. Naturally, between applause and cheers, there was also a question – can it keep up the pace? Apparently not; the answer came just a few days later when Tesla beat all Wall Street expectations – only it did so negatively, not the other way around.
More precisely, Tesla posted its first sales decline over the past four years, with the first quarter of 2024 deliveries numbering 'just' 386,810 units, down 20.2% from the previous quarter and minus 8.5% year-over-year. Additionally, it produced many more vehicles - 433,371 units – during the period. So, there's a good deal of inventory worldwide. This means that customers might get some great deals with price reductions across various markets in the coming period.
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