Tesla faces a number of challenges in Europe including continued intense competition and brand damage from Elon Musk's political involvement.

KEY POINTS

New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.

BYD recorded 13,503 new registrations in July, up 225% annually.

Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.

  • wheezy@lemmy.mlEnglish
    51·
    4 days ago

    This is how modern “competition” works in every industry. China is just following the standard model of taking losses in order to monopolize the market. Why do you think so many companies in the US (Uber being the most obvious one) are just taking losses for years and years?

    I feel like people don’t understand modern economics and the complete lack of competition. So when our media says “China is bad. Look at them cheating!” people believe it.

    China isn’t cheating or “going to crumble because of this” like all the YouTube click bait videos say. This is literally just how the global markets work.

    Is it good? Fuck no. But it’s not unique to China at all. And their 5 year planned economic systems are much more prepared for a global collapse than ours are. At least in meeting the material needs of its citizens. The US has all but gutted any of its social safetynets for when this all goes to hell.