Tesla Faces New Reality of Tough Competition -- Update
11 Marzo 2021 - 4:33PM
Noticias Dow Jones
By Rebecca Elliott
Tesla Inc.'s grip on critical markets is showing early signs of
slipping as established auto makers push rival models in their race
to catch up to Elon Musk's vision for an electric-car future.
In the U.S., Ford Motor Co.'s electric sport-utility vehicle,
the Mustang Mach-E, has begun eating into Tesla's market share,
according to new market data, while in Europe, the world's largest
electric-car market, Volkswagen AG beat Tesla to become the
top-selling all-electric vehicle maker there last year. In other
markets, such as Asia, Tesla's market share has held up and even
grown.
The Mustang Mach-E that launched to rave reviews accounted for
12% of the all-electric vehicles delivered in the U.S. last month,
according to market research firm Motor Intelligence. Tesla's share
of the market fell to around 69% in February from about 79% in all
of last year.
Customers in Western Europe registered roughly 98,000 Teslas in
2020, down about 11% from 2019, while overall registrations of
all-electric vehicles more than doubled, according to Schmidt
Automotive Research. Tesla's share of the market fell to around 13%
in 2020 from roughly 31% a year earlier.
Tesla, which doesn't break out deliveries by region, didn't
respond to requests for comment.
Tesla for several years has been expected to face stiffer
competition. Companies including Volkswagen and General Motors Co.
are pouring billions of dollars into beefing up their electric
offerings. Tesla's market-share losses in the U.S. and Europe could
indicate those competitive dynamics are starting to play out.
Still, auto makers are competing in a growing global market,
spurred in part by government efforts to phase out gas guzzlers.
Tesla also still has some strategic advantages over rivals,
including a network of dedicated vehicle-charging stations.
The emerging popularity of rival plug-in models in some markets
is increasing the pressure on Tesla to increase production and
expand its manufacturing footprint. "All of a sudden there are
players on the other side of the playing field," said Matthias
Schmidt, an independent auto analyst based in Germany. "The key for
Tesla is to increase supply."
The growing competition comes at a bumpy time for Tesla. The
company, after strong growth in 2020 despite the pandemic, briefly
shut down its lone U.S. car plant in Fremont, Calif., last month
due to parts shortages. Tesla also has said production this quarter
could be dented by lower Model S sedan and Model X sport-utility
vehicle output as it introduces updated versions of both, though it
is increasing output of its Model Y compact sport-utility vehicle
in China.
Tesla's stock, which soared more than 700% last year, had
retreated about 25% since its January peak as of Wednesday. Shares
closed 4.7% higher on Thursday.
Although rivals have made inroads in some markets, Tesla is
still growing. The company delivered nearly half a million vehicles
world-wide last year, up more than one-third from 2019, and is
aiming to grow at a faster pace in 2021.
Tesla in 2020 nearly tripled deliveries from a year earlier in
the Asia-Pacific region, as it ramped up output at its Shanghai
plant, according to EV-volumes.com, which tracks global
electric-vehicle sales. That demand, the data showed, helped keep
Tesla's share of global all-electric vehicle sales relatively
steady at around 22% last year.
Tesla's long-term growth will be driven in part by two new
vehicle factories it plans to open this year: one near Austin,
Texas, and another outside of Berlin, its first in Europe. It also
has expanded production capacity in Fremont and at its relatively
new plant in Shanghai.
Some analysts see the Germany plant as key to improving the
company's fortunes in the region.
Mr. Musk has said that he expects the company's new factories to
improve delivery efficiencies. "There's just fewer cars on boats,
much less capital tied up with the cars that are on boats or being
transported to customers," he said in January.
Producing locally could allow Tesla to cut prices in Europe for
its Model 3 sedan by up to 20%, thanks in large part to reduced
shipping, insurance and tariff costs, analysts at New Street
Research estimated in a note to investors this week.
Write to Rebecca Elliott at rebecca.elliott@wsj.com
(END) Dow Jones Newswires
March 11, 2021 17:18 ET (22:18 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Ford Motor (NYSE:F)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Ford Motor (NYSE:F)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024