Tesla shipped 1.9 million EVs in 2023 … 950 thousand of which were made in China, see Techmode website. I think we can assume that most of the China-made cars are sold in China or the Far East. This compares to 3 million cars made by the China EV maker BYD and presumedly mostly sold in its home country.
Two possible conclusions:
1) Tesla is selling around one million EVs in the United States … about 7% of the U.S. annual volume of 14.2 million of all types … whereas a good year would be 15+ million.
2) Although China has almost 4 times America’s population, it is consuming only about 3 times the number of EVs … meaning it is only 3/4 as woke … or America is over-woke. I suspect the latter.
These statistics, combined with the fact that traditional auto manufacturers are having difficulties moving their EVs, suggest to me that such shipments in the U.S. may be nearing an inflection point … independent of all government pressure and incentives to the contrary.
But, worldwide, this EV inflection point conclusion is probably not the case. So don’t short Tesla stock quite yet.
STAND UP FOR THE DATA!
Factor in that the cars/1000 in China is 300 and in the US is 900.
ReplyDeleteAre you saying there are three times as many cars of all types in China as in the U.S.?
ReplyDeleteNo. The opposite. A lot more people but a much lower cars per 1000 people. 2022 data:
ReplyDeleteChina 219/1000 307,000,000 total
United States 868/1000 290,800,000 total
Thanks for the translation.
ReplyDelete