Are Tesla Sales Stalling as China’s BYD Closes In?
Tesla is a big name in the world today, thanks to Elon Musk’s relentless efforts to do the unimaginable! Due to the popularity of Elon musk, Tesla’s popularity has also seen a remarkable upsurge in the last few years. Tesla has made giant leaps from inception and these have reflected in sales growth and increasing market shares. This, however, highlights Tesla’s strong position in the automotive industry, most especially the EV (electric vehicle) industry.
Since the US presidential election in 2024, a landscape has been created that could possibly favor Tesla. Trump’s victory has had a notable impact on Tesla, influencing its market position, stock performance, and overall outlook in the electric vehicle (EV) industry. Tesla’s shares soared by more than 14% after Donald Trump’s victory in the US presidential elections in 2024. But that’s not all.
Unfortunately, Trump’s administration could roll back some government support (e.g the Federal EV Subsidy) for electric vehicles. Notwithstanding, Elon Musk has expressed confidence in Tesla’s ability to fund its market dynamics should Trump’s administration roll back the $7,500 rebate for EV purchases. While it favours Tesla (as a market leader), it will make it more challenging for newer EV manufacturers. In addition to this, Trump’s plans for higher tariffs on Chinese imports may also favor Tesla while shielding Tesla from competition.
Tesla has experienced significant growth in car sales in the last few years. Let’s take a look at the breakdown of Tesla’s annual sales figures in the U.S. from 2020 to 2024.
| Year | Approx. Vehicle Sold (US Sales) | Approx. Vehicle Sold (Global Sales) |
| 2020 | 292,902 | 499,550 |
| 2021 | 301,998 | 936,950 |
| 2022 | 536,069 | 1.3 Million |
| 2023 | 8000 | 1.8 Million |
| 2024 | 670,000 | 1.79 Million |
Elon Musk’s Tesla announced that they experienced a drop in global new car sales in 2024. It was lower than the previous year (2023) at just over 1.78 million units. This decline in sale is likely a result of sluggish growth in the US market and intensifying competition with Chinese EV manufacturers. Tesla’s 1,789,226 units global sale marks a 1% decline from 2023. Regardless of this slowdown, Tesla’s sales in China are skyrocketing. Tesla sale in China rose to 657,000 which is approximately 8.8% with December sales reaching a record high of 83,000 units.
According to sources like the Associated Press and Bloomberg, this is actually the first time of its kind in over 10 years that Tesla car sales have fallen below the previous year’s figure. As we continue to anticipate an increase in sales over the next few years, Tesla vehicles are beginning to have a wide range of peripheral products that are specially designed to enhance the driving experience. These products are not only aesthetically pleasing, but they are also rich and offer convenience and functionality. One of such notable products is the ESR car wireless charger for Tesla cars.
This ESR car wireless charger for Tesla cars is specially designed for Tesla cars and it has several advantages including:
- Seamless Integration: This charger is designed to fit seamlessly with Tesla’s interior. It perfectly complements the car’s aesthetic without falling short on functionality. It beautifully allings with Tesla’s modern look.
- Fast Charging: This ESR car wireless car charger for Tesla supports fast charging capabilities. So you don’t have to worry about efficiency and charging speed.
- Compatibility: This ESR car wireless charger for Tesla is compatible with a wide range of devices (as long as the device is magSafe compatible). This implies that the MagSafe technology makes it all too easy for users to charge their smartphones easily while on the go.
- Mounting Options: This wireless charger offers mounting solutions and a strong magnetic hold. It also features optimal viewing angles, navigation, and easy access to other apps while driving.
- High Quality: This wireless car charger is made from high quality materials making it highly durable.
Going back to Tesla, it is true that the company experienced a little overall sales decline last year. This is as a result of several factors, including reduced European subsidies, global competition, and a shift in US buyer preferences towards lower-priced hybrids. Despite all of this, Tesla’s CEO Elon Musk has confidently predicted a significant bounce-back in 2025. This bounce back is predicted to come with an expected 20-30% increase in sales.
Tesla may lower prices a bit and the reason behind this is “competition”. The battle for supremacy and survival with BYD (China’s largest EV manufacturer), and others is getting more fierce. Also it seems like the demand for EVs has run its course in the US market, which is why growth is sluggish because it is the company’s main market.
