Tesla loses EV crown to China’s BYD as competition, tax credit expiry hit demand
https://www.theglobeandmail.com/business/article-teslas-quarterly-deliveries-fall-more-than-expected-on-lower-ev-demand/?utm_medium=Referrer:+Social+Network+/+Media&utm_campaign=Shared+Web+Article+Links
Posted by KeyHot5718
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‘Tesla Inc. TSLA-Q ceded its crown as the world’s top electric vehicle maker to China’s BYD after annual sales fell for a second year, with intensifying competition, the expiration of U.S. tax credits and damage to the automaker’s brand hurting demand.’
More proof, if needed, that tariffs do not work. With the US auto industry closing shop in Canada it is time to rethink barriers to auto trade with China.
Is my recollection faulty, or was Musk in favor of letting the US EV tax subsidy expire because he thought Tesla could withstand the hit better than its competitors could?