Tesla Is Smoking the Competition
We have a video and Tesla chart that shows that Tesla is smoking the competition.
James Stephenson sent out a Tweet that shows light vehicle sales, courtesy of Automotive News, and Tesla is the only auto maker that is positive year to date to Q3, 2022.
James made an Excel chart that shows all the auto makers in 2022 and 2021, with the percent increase from 2021 to 2022. This is year to date Q3 sales. The results of his auto makers and the light vehicle sales was his chart, showing Tesla at a 47% growth and all others at least 1% or more in the negative.
This is a very telling chart. It shows that EV adoption is soaring and Tesla is in the prime position to take advantage of this. Tesla sold 232,800 vehicles this time last year and this quarter, their sales equal 342,700.
Tesla's Growth for the Future
Tesla's growth for the future is going to continue. Tesla will sell every vehicle they make for years to come. There has been recent news about Tesla having declining market share in many different areas including Europe, but Tesla will continue to retain a 20 to 25 percent share of the market for EVs.
For is the only company that is doing ok with an only 1% decline. Anyone who says Tesla is having a demand problem, you need only simply share them this chart. You could even argue that Tesla has too much demand.
There is a lot of short term noise right now overall in the markets and with Tesla. Once the Twitter situation is resolved and we start to see how much more Tesla is doing in Q3 and Q4, Tesla should bounce up sharply.
Tesla may start doing stock buy backs. Tesla's stock has gone down quite a bit this year. But, Tesla doesn't have a lot of cash to do this right now. Tesla needs to wait another year or two. There could be global events that halt Tesla's business for months at a time.
Is Tesla really smoking the competition? Will Tesla keep growing at 50% per year?
For more information, see this video by James Stephenson:
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.