Tesla Also Losing Ground in China as It Disappoints Globally

5
3
Favorite

Tesla Also Losing Ground in China as It Disappoints Globally

Bloomberg04-03

The US carmaker’s market share is 6.7% versus 10.5% a year agoTesla relies only upon two older-style models of car in ChinaA Tesla showroom in Beijing.As Tesla Inc. disappoints investors on a global ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（3）

Guavaxf30
·04-03
“It’s been an epic disaster, not just in terms of the delivery number, but the strategy,” Wedbush Securities Inc. analyst Dan Ives said in an interview with Bloomberg TV on Wednesday in Asia. “This is probably one of the most challenging periods for Musk and Tesla in the last four or five years.” This quote from Dan Ives, one of Tesla's major champion says it all.
Reply
1
Report
AlanTLK
·04-03
Bloomberg shud also ask why Apple only has one iPhone product with many variants and yet Apple products are so desired?😂🤔
Reply
15
Report
AnsenYu1
·04-03
Share your opinion about this news…
Reply
1
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2424833856?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-03 14:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2424833856","market":"us","top_or_hot":-1,"title":"Tesla Also Losing Ground in China as It Disappoints Globally","media":"Bloomberg","content":"<div>\n<p>The US carmaker’s market share is 6.7% versus 10.5% a year agoTesla relies only upon two older-style models of car in ChinaA Tesla showroom in Beijing.As Tesla Inc. disappoints investors on a global ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-04-03/tesla-also-losing-ground-in-china-as-it-disappoints-globally?srnd=homepage-americas\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Also Losing Ground in China as It Disappoints Globally</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Also Losing Ground in China as It Disappoints Globally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-03 14:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-04-03/tesla-also-losing-ground-in-china-as-it-disappoints-globally?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The US carmaker’s market share is 6.7% versus 10.5% a year agoTesla relies only upon two older-style models of car in ChinaA Tesla showroom in Beijing.As Tesla Inc. disappoints investors on a global ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-04-03/tesla-also-losing-ground-in-china-as-it-disappoints-globally?srnd=homepage-americas\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861558580.USD","symbol_name":"日兴方舟颠覆性创新基金B","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-04-03/tesla-also-losing-ground-in-china-as-it-disappoints-globally?srnd=homepage-americas","article_id":"2424833856","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2424833856","pubTimestamp":1712125800,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Tesla Also Losing Ground in China as It Disappoints Globally","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4551":"寇图资本持仓","LU1548497426.USD":"安联环球人工智能AT Acc","BK4574":"无人驾驶","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4581":"高盛持仓","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4099":"汽车制造商","BK4511":"特斯拉概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0823411888.USD":"法巴消费创新基金 Cap","BK4023":"应用软件","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4592":"伊斯兰概念","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0823414478.USD":"法巴经典能源转换基金","BK4527":"明星科技股","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4588":"碎股","BK4550":"红杉资本持仓","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","TSLA":"特斯拉"},"translate_title":"特斯拉在中国也失去了优势，因为它在全球范围内令人失望","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLL":1,"TSLA":1},"content_text":"The US carmaker’s market share is 6.7% versus 10.5% a year agoTesla relies only upon two older-style models of car in ChinaA Tesla showroom in Beijing.As Tesla Inc. disappoints investors on a global scale, delivering vehicles in the first quarter well short of expectations, it’s also been slowly losing ground in China, the world’s biggest automotive market.Confronted with unprecedented local competition amid weakened consumer sentiment in Asia’s largest economy, the market share of Elon Musk’s EV maker has shrunk from 10.5% in the first quarter of 2023 to around 6.7% for the quarter ended in December, Bloomberg calculations based on data released by the country’s Passenger Car Association show.While the PCA didn’t provide a monthly breakdown for March of local shipments versus which EVs made in Tesla’s Shanghai factory are for export, the figures for the first two months of 2024 show the US carmaker’s market share for that period was about 6.6% compared to 7.9% the same period a year ago, when Covid restrictions were just lifted.Tesla’s sales and production are consistently backloaded in China, with the third month of each quarter the strongest for local shipments.Tesla, which has long labeled itself a transformer in the industry with avant-garde products and cutting-edge technologies, has, in China at least, been too comfortably relying upon two models — the Model 3 sedan and the Model Y sport utility vehicle. Both were first unveiled before 2020 and have only had minor refreshes since. Meantime, a slew of rivals, from BYD Co. to Nio Inc., Xpeng Inc., Li Auto Inc. and now smartphone maker Xiaomi Corp. have unveiling more thrilling line-ups packed with high-tech features.BYD in particular has a wide spectrum of models from its Seagull hatchback, which features angular styling, a two-tone dashboard shaped like a seagull’s wing and six airbags and retails for under $10,000 right though to its Yangwang U8 plug-in hybrid, a 1,200-horsepower luxury SUV that can float on water and make a 360-degree “tank turn” on the spot.Price cuts used to be another sales booster for Tesla, one the the most successful practitioners of the direct-sales mode, a strategy that allows it to dictate the end price in line with production costs and market demand. However, Chinese automakers have proven determined to join the price war, which was kicked off by Tesla in the January 2023 and repeated at the start of this year. Many of them actually deepened their price cuts earlier this week, a likely response to Tesla’s pre-announced price hike on Monday.In addition, as is the case in many places around the world, growth in China’s EV market is slowing. Shipments of new-energy vehicles are projected to increase 25% to 11 million units this year, the PCA has said. While still expanding, that’s down from 36% in 2023 and 96% in 2022.Tesla’s factory in Shanghai.Tesla was therefore forced to trim production from its Shanghai factory, Bloomberg reported late last month. Tesla shipments from its Shanghai plant, which makes EVs for China as well as for export to other parts of Asia and Europe, recorded a decline in the first two months of 2024 from the same period a year ago while overall passenger vehicle sales in China increased.The PCA said Tuesday that Tesla delivered an estimated 89,064 vehicles in China in March, up from 60,365 in February — which was the lowest since December 2022 — and broadly in line with 88,869 in March 2023.Globally, Tesla said it delivered 386,810 vehicles in the first three months of the year, missing Bloomberg’s average estimate by the biggest margin ever in data going back seven years.“It’s been an epic disaster, not just in terms of the delivery number, but the strategy,” Wedbush Securities Inc. analyst Dan Ives said in an interview with Bloomberg TV on Wednesday in Asia. “This is probably one of the most challenging periods for Musk and Tesla in the last four or five years.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":291226378891360,"gmtCreate":1712126106044,"gmtModify":1712126114502,"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"3576140222331577","authorIdStr":"3576140222331577"},"htmlText":"“It’s been an epic disaster, not just in terms of the delivery number, but the strategy,” Wedbush Securities Inc. analyst Dan Ives said in an interview with Bloomberg TV on Wednesday in Asia. “This is probably one of the most challenging periods for Musk and Tesla in the last four or five years.” This quote from Dan Ives, one of Tesla's major champion says it all.","listText":"“It’s been an epic disaster, not just in terms of the delivery number, but the strategy,” Wedbush Securities Inc. analyst Dan Ives said in an interview with Bloomberg TV on Wednesday in Asia. “This is probably one of the most challenging periods for Musk and Tesla in the last four or five years.” This quote from Dan Ives, one of Tesla's major champion says it all.","text":"“It’s been an epic disaster, not just in terms of the delivery number, but the strategy,” Wedbush Securities Inc. analyst Dan Ives said in an interview with Bloomberg TV on Wednesday in Asia. “This is probably one of the most challenging periods for Musk and Tesla in the last four or five years.” This quote from Dan Ives, one of Tesla's major champion says it all.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/291226378891360","repostId":2424833856,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":291225820389432,"gmtCreate":1712125968915,"gmtModify":1712125973306,"author":{"id":"4090374759889920","authorId":"4090374759889920","name":"AlanTLK","avatar":"https://community-static.tradeup.com/news/d8c804e09823389ba56fa2f288d76d11","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1,"idStr":"4090374759889920","authorIdStr":"4090374759889920"},"htmlText":"Bloomberg shud also ask why Apple only has one iPhone product with many variants and yet Apple products are so desired?😂🤔","listText":"Bloomberg shud also ask why Apple only has one iPhone product with many variants and yet Apple products are so desired?😂🤔","text":"Bloomberg shud also ask why Apple only has one iPhone product with many variants and yet Apple products are so desired?😂🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/291225820389432","repostId":2424833856,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":291225802952800,"gmtCreate":1712125965435,"gmtModify":1712126103378,"author":{"id":"4121411943014412","authorId":"4121411943014412","name":"AnsenYu1","avatar":"https://community-static.tradeup.com/news/abc6acb59347f0b9d97e9ba0f48c9011","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4121411943014412","authorIdStr":"4121411943014412"},"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/291225802952800","repostId":2424833856,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":5,"commentSize":3,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}