During this period, the topic of Tesla seems to be always at the forefront. From the time it was built in Shanghai to the launch of domestically produced Tesla cars, it has attracted a lot of enthusiasm from car buyers. The high-efficiency consumption line has given Tesla the confidence to engage in price wars and frequently cut prices. Teslas on the road are becoming more and more popular. The more they do, the more pressure they will feel on other Chinese car companies.
However, the good times did not last long. Tesla has experienced safety incidents such as spontaneous combustion, brake failure, and door opening. Car owners from all over the country have continued to protest and defend their rights. After encountering the car roof rights protection incident on April 19, Tesla stood at the forefront of public opinion. One piece of negative news was not resolved, and a series of problems followed one after another, which led to Tesla's difficulties in the Chinese market. Sales plummeted.
According to data released by Tesla, Tesla’s global sales in 2020 were approximately 500,000 vehicles, 30% of which were in China. In October 2020, Tesla’s market share in China Up to 21%. There is no doubt that for Tesla, the Chinese market has become the largest market after the United States. However, loopholes in safety issues have appeared from time to time, causing China's regulatory agencies to adopt a tough attitude and tactics towards Tesla. Tesla had to suspend its car factory expansion plan in Shanghai. It is reported on the Internet that Tesla is building new cars in Chengdu. News about the factory also disappeared.
According to relevant media reports, Tesla’s sales in April fell by as much as 65.51% month-on-month, while net orders in May were less than 10,000 units, a drop of nearly 50% compared to April. %. Affected by these negative news, Tesla's stock price also plummeted. You must know that Tesla's soaring stock price has made some investors make a lot of money. Things are changing. Despite the general trend of collective gains in the new energy sectors of US stocks this week, Tesla has remained the same, falling for three consecutive trading days. It has fallen by as much as 35% in four months, and its market value has evaporated by US$300 billion.
For Tesla, compared to the declining sales, what is more troublesome is that its reputation is being wasted. The attitude of Chinese consumers towards Tesla has gradually changed from favoring Model 3 and others. The main vehicle transforms into despair and abandonment. According to relevant industry insiders, Tesla’s weekly sales have so far shown no signs of recovery.
The more serious situation is that in addition to the Chinese market, Tesla’s share of the global market is also steadily declining. In March, Tesla's global market share reached nearly 30%, and by April this value dropped to 11%. In the United States, the situation is not pessimistic. Although Tesla is still very popular in the United States and is the leader in new energy vehicles, as new competitors continue to pour into this field, its market share has also dropped significantly, with only 55% in April, compared with March. dropped by 17 percentage points.
Tesla’s market share is declining, but looking around the world, the sales of electric vehicles are steadily increasing. In other words, the expansion of new energy vehicles in the global market continues, and Tesla However, its sales volume and market share are going in the opposite direction, and are constantly declining.
In addition to the direct impact of sales, the market’s previous expectations and excessive valuation of Tesla are also the main reasons for this round of Tesla’s stock price decline. Because Tesla's performance is not as good as expected, the stock price will naturally adjust itself. Coupled with the macroeconomic environment, the Federal Reserve released news that it is considering tightening market liquidity. Under the influence of multiple negative effects, Tesla has ushered in a new era. The stock price plummeted.
Tesla has continued to recall vehicles sold in recent days due to the continuous rain in the house. Whether in the United States or in China, Tesla is performing recalls. Among them, in China will recall more than 734 imported Model 3 vehicles, which once made the outside world speculate whether this recall plan is related to the brake failure that was previously exposed.
At present, Tesla is facing a lot of difficulties. Perhaps in order to hedge its impact, Tesla has applied to the US Patent and Trademark Office to consider establishing restaurant services and seems to be interested in entering the catering industry. Although Tesla CEO Musk has many ideas, perhaps the best way to deal with the tsunami of negative comments Tesla is facing now is to put down its constant arrogance and face the doubts of the media and consumers. Better deal with related issues.
After all, in the Chinese market, users’ patience with Tesla is constantly being exhausted, and on the other hand, domestic new energy vehicles are constantly rising. The two domestic new energy giants Weilai and Xpeng Ideal The car delivery data in May is very impressive. Perhaps in the near future, people will see Tesla being overtaken by domestic new energy vehicles.