Tesla may lose the market due to a competitor
2022.11.29 11:25
Tesla may lose the market due to a competitor
Budrigannews.com – Tesla (NASDAQ), As competitors attempt to reduce Inc’s share of the electric car market with less expensive alternatives, Inc may be losing its grip.
S&P Global (NYSE:) says that the world’s most valuable automaker “does not yet truly compete” in a market where models priced below $50,000 are in high demand due to the rapid popularity of electric vehicles among masses.Mobility stated in a Tuesday report.
With a starting price of just under $47,000, the Model 3 compact sedan is the most affordable vehicle currently available from the company led by Elon Musk.
According to the research company, “Tesla’s position is changing as new, more affordable options arrive, offering equal or better technology and production build,” the company’s ability to maintain its market share will be in jeopardy in the future.
Models such as General Motors Co. (NYSE:) are Tesla’s rivals.’s Bolt and Bolt EUV, the Ioniq 5 from Hyundai Motor Co., the EV6 from Kia, and Volkswagen AG (OTC:) Nissan and ID.4 (OTC:) The research firm stated that’s Leaf.
Although it is still unknown when the vehicle will be produced and delivered, Musk has made hints that it will be available at a lower price.
Tesla was working on a new Model 3 in order to lower production costs and enhance the electric sedan’s features.
