EV sales upfrom 28 Jan 2021 NY Times
In a statement, the company forecast 2021 sales would grow by more than 50 percent, implying a sales total of at least 750,000 cars. The company also said it expected annual sales growth to average about 50 percent over the next several years, and said deliveries of its semi truck would begin before the end of the year.
But the automaker is also facing challenges. Tesla earns less money than some of its larger and more established rivals. In the third quarter alone, General Motors generated $4 billion in profit — more than five times Tesla’s total for the whole year. G.M. will report its fourth-quarter earnings on Feb. 10
In Europe, Tesla is encountering increasing competition from Volkswagen, Renault, Hyundai, Daimler and other manufacturers that have introduced improved and more affordable electric cars. Some of those models are outselling Tesla’s Model 3, which had previously been the best-selling electric car in the region.
While Tesla does not break out its sales by region or country, it appears that the company’s U.S. sales slowed in 2020, mainly because of the coronavirus pandemic. But the company has also seen Model 3 sales stall as Model Y deliveries have increased, according to data on new-car registrations from California, Texas and 20 other states analyzed by Cross-Sell, a market research firm.
Competition in the United States is heating up, too. Ford Motor recently started delivering the Mustang Mach-E, an electric sport-utility vehicle, and Volkswagen says it will introduce an electric S.U.V., the ID.4, in March. Both are eligible for federal tax credits that no longer apply to Tesla cars, making them more affordable than the Model Y.