Elon Musk responded to the newest staggering EV sales numbers with a sarcastic yet realistic post: "The competition is coming." The Tesla CEO has heard that for years, but the latest numbers from Reuters show that no manufacturer is even close in the EV race; in fact, all of the others could combine, and they still can't match Tesla's dominance.
Between January and June 2023, Tesla sold a whopping 325,291 electric cars in the U.S. That's way more than any other company. General Motors' Chevrolet sold the second most, but only 34,943 vehicles. Ford, Hyundai, and Rivian sold even fewer. Tesla's Model Y and Model 3 cars are the most popular, selling 200,000 and 160,000 each.
Other Companies Are Having a Hard Time
While Tesla sells many cars, other companies like Ford are struggling. Ford had to stop building a big $3.5 billion battery plant in Michigan because they were losing money. They expected to lose $4.5 billion on their electric cars in one year. They are also facing labor strife, with the union demanding a 30% pay raise and a reduction of hours.
Many car companies are spending a lot of money to make electric cars and batteries, but they're not selling enough to make a profit. They need to figure out how to make their cars more popular.
More People Are Buying Electric Cars, But Mostly Teslas
Tesla dominates EV sales in the U.S.
Not a Tesla App
More and more people are buying electric cars. They made up 8.9% of all vehicles sold in the U.S. in the first half of 2023. That's almost 1 in 10 vehicles. But, there are 103 different models of electric cars, so the sales are spread out among many brands.
Tesla is also helping to make electric cars more affordable. They used their profits to lower prices and sell more cars. The average price of an electric vehicle dropped to $53,376 in July 2023, down from nearly $70,000 the year before. This makes it easier for more people to buy electric cars and join the green movement.
Globe Appeal
While the latest numbers looked at just the U.S., there are stories from around the world showing Tesla's dominance. The company marked a significant achievement by having over 50,000 vehicles on the roads, with 20,000 of them being Model Y crossovers, as shared by Tesla Regional Lead Kim Gaba Jensen on LinkedIn.
This growth is noteworthy, considering the number of Teslas in Denmark was just above 4,000 when Jensen joined the company in 2018 and around 12,000 at the end of 2020. This rapid increase in Tesla vehicles reflects the brand's growing popularity in the country, constituting nearly 2% of all cars on Danish roads. This milestone was confirmed and celebrated on social media platforms, including X, with Tesla Europe expressing gratitude to its Danish customers.
Tesla's ongoing supremacy in the electric vehicle sector remains unchallenged, as it sets unprecedented sales records and experiences monumental growth globally, with Denmark being a prime example. The struggle of competitors like Ford exemplifies the challenges other automotive companies face trying to find a foothold in this Tesla-dominated market. Remember, the company hasn't even introduced the vehicle it believes will be the best-selling EV.
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The greatly anticipated FSD v12.4 is around the corner, with Elon Musk mentioning that it will be going to employees this weekend, with limited external testers next week.
Several significant improvements are coming with V12.4, which is being compared to the leap in performance that was previously seen between V12 and V11.
Improved Comfort and Reduced Interventions
There are quite a few improvements expected with V12.4, which Musk has said will be focused on user comfort by reducing hard accelerations and sudden braking. According to Musk, FSD v12.4 is also expected to have a 5-10x improvement in time between user interventions, which means that Tesla is rapidly approaching its goal for the Robotaxi announcement on August 8, 2024.
Steering Wheel Nag Removal
FSD V12.4 is expected to eliminate the steering wheel nag, as Musk confirmed its removal last week. The camera-based driver monitoring system will be taking over, providing a hands-free experience. These improvements will most likely benefit owners who have cabin cameras with infrared lights the most, while Tesla may continue to use steering wheel nag as a fallback mechanism.
Driverless Autopark
The second key feature that may be included in v12.4 will be Banish Autopark, previously known as Reverse Summon, allowing you to choose a parking spot, exit the vehicle and have the car park itself. Whether this feature makes it in v12.4 is yet to be seen, but Musk has mentioned that parking without a driver is coming soon.
Automatically Seek Parking Spot at Destination
Finally, your Tesla will now traverse a parking lot and automatically enter Autopark mode when arriving at a destination, according to a post from Musk.
Eligibility and Branch
Tesla recently added FSD v12.3.6 to the 2024.14 branch with updates 2024.14.5 and 2024.14.6. This makes it very likely that Tesla’s next FSD version will also be based on 2024.14, meaning that it will be available to any vehicle on 2024.14.x.
For users on update 2024.3.25, this means that they’ll receive all of the features included in updates 2024.8 and 2024.14, which should make it a massive update.
Release Date
Musk has mentioned that FSD V12.4 is going out to employee vehicles for internal testing this weekend, with external testing starting next week. The rollouts typically go slower than predicted but looks like we may see this begin shipping to customers by the end of the month.
Today, as part of a broader change of tariff rates on Chinese goods, U.S. President Joe Biden announced that he’ll raise tariffs on electric vehicles imported from China, increasing the rate from 25% to 100%, effective this year.
This increase won’t just impact the import of vehicles, but also the rate for lithium-ion batteries produced in China, which will be moving from 7.5% to 25%.
Impact on Competition
The immediate impact of this new regulation is significant for Chinese manufacturers, who have been regarded as Tesla’s largest and greatest competition. Given the tariff hike, this means that new Chinese manufacturers, such as Nio, XPeng, or BYD, will either need to set up production in North America, or be subject to the increased import tariff.
Nio’s vehicles cost between $40,000 USD to $70,000 USD in China based on today’s conversion rates, and with an import tariff of 100%, an imported vehicle’s price would be doubled to $80,000 USD to $140,000 USD, not including other fees. Chinese manufacturers will have to closely weigh the advantages and disadvantages of opening up the North American market, with challenges including vehicle homologation, new tariffs, and a difficult EV market.
Tesla and Chinese Tariffs
Elon Musk recently visited China, engaging with officials to build a foundation for what is currently the world’s largest electric vehicle market. With the potential import of Chinese EVs becoming restricted to the United States, this places Tesla in an advantageous position over its Chinese competitors who have yet to establish their brands in North America.
On the other hand, this could also impact Tesla, as they import Chinese batteries for usage in some vehicles in the United States.
Tesla does not import Gigafactory Shanghai vehicles to the US, but has been increasing North American battery production lately, with expansions in Lathrop, California and a new facility in Sparks, Nevada.
Canadian Tariffs
In Canada, the Model 3 and Model Y are currently being imported from Gigafactory Shanghai. Given Canada’s close following of US foreign policy, this could impact either the prices of Tesla vehicles in Canada or have Tesla shipping vehicles from Fremont and Texas to the United States once again, should Canada also adopt a similar tariff policy.
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Tesla Android Project enables you to run Android apps in your Tesla. The platform is Open Source and you can deploy it on your own Raspberry Pi 4. Consider supporting the initiative by donating or purchasing the Compute Module 4 Bundle that delivers the best experience. Get $20 off by using the code: NotATeslaApp
The official Tesla app only notifies you if your car is broken into. By installing Sentry Pro on your phone, you will be notified for all Sentry Mode events. Stay connected and avoid potential surprises by receiving notifications. Stop constantly checking the cameras to ensure safety. Check only when necessary, save battery and get peace of mind. Get a 7 day free trial here!
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