All articles tagged with #sales goals
Over the past 18 months, Tesla has missed sales goals and seen its share price fall as CEO Elon Musk makes dramatic decisions, including price cuts and a shift towards AI and robotaxis, moving away from its original mission of affordable mass-market EVs. Bloomberg's Liam Denning suggests Tesla's growth story is becoming less credible.
Chinese electric vehicle (EV) makers are slashing prices in pursuit of ambitious sales targets for 2023, but analysts believe these cuts may be the last for a while due to strong sales and thin profit margins. Sales of pure electric and plug-in hybrid EVs in China rose 30.7% YoY in July, with top companies like BYD, Nio, and Li Auto setting new monthly sales records. While the low-price strategy has boosted deliveries, further significant price reductions are unlikely as customers are already buying. A fierce price war earlier this year failed to drive sales, and low profit margins make it difficult for most Chinese EV start-ups to turn a profit.