Here are the effects of government support for electric cars. Tesla sales are growing

Luc Williams

According to analysts surveyed by Bloomberg, in the third quarter of this year Tesla has probably delivered around 463,900 cars worldwide. This means an increase of approximately 7%. compared to the quarter of last year..

Demand for electric cars in China has increased over the past few months after… the government has doubled the subsidy encouraging drivers to replace older cars with electric models.

Analyst Dan Levy from Barclays, quoted by Bloomberg, believes that China’s strength comes at a very opportune time for Tesla. Levy estimates Tesla delivered 470,000 units worldwide in the third quarter. “This helps offset ongoing weakness in the U.S. and Europe.”

An urgently needed model for the masses

After nine months of a year in which Tesla warned that sales may grow at a lower rate than expected, the electric vehicle maker needs to accelerate to exceed 1.8 million cars delivered in 2023. To increase demand among mass buyers, the carmaker announced starting production of cheaper models in the first half of 2025. According to Musk, cheaper vehicles will provide a boost for the company. Unfortunately, Tesla does not provide many details about the new cheap car. Musk only stated that they will be produced on the same production lines as Tesla’s current offering.

Cybertruck sales are slow

Sales of the last new product Tesla introduced, covered in stainless steel Cybertruck, is growing, although the company has never provided specific delivery numbers. Bloomberg reported that analyst Ben Kallo of Robert W. Baird estimates sales of Tesla pickup trucks at 20,000. pcs. in the last quarter.

Artificial intelligence is Musk’s pet

The introduction of the cheaper model to the market was slightly delayed because Musk spent most of this year prioritizing the construction of fully autonomous robotaxi prototypes.

He also promised to start production of a humanoid robot called Optimus in limited quantities next year. As Bloomberg notes, Musk’s ambitions for autonomy and artificial intelligence have divided investors. The billionaire came under pressure to build more affordable, conventional electric vehicles to maintain Tesla’s profits.

About LUC WILLIAMS

Luc's expertise lies in assisting students from a myriad of disciplines to refine and enhance their thesis work with clarity and impact. His methodical approach and the knack for simplifying complex information make him an invaluable ally for any thesis writer.