Tesa Q1 sales offer an interesting perspective into global auto industry. In early April, automakers reported a decline in new car sales, as fear of C-19 did not allow consumers to turn to dealers, which exacerbated the problems of China's largest manufacturing sector.
General Motors, Fiat Chrysler, Ford Motor, Toyota, Honda, Hyundai and Mercedes-Benz reported that sales fell in the first quarter of 2020. Automakers are experiencing a strong decline in sales, as evidenced by statistics.
#China #Auto Sales Q1 2020, painful for all except @Teslacn. #Tesla should be behind Volvo having sold about 18k cars, the only car maker with positive growth! 2020 will surely be a nightmare year for the Auto Industry.@elonmusk @Tesla @vincent13031925 @ray4tesla @JayinShanghai pic.twitter.com/pKmu4JE7xM— Alvin Foo (@alvinfoo) April 18, 2020
The main automakers in China felt the influence of the virus. Production facilities were temporarily suspended, and consumers were not interested in active car purchases. Also, at the time of quarantine, the stores of all automakers were closed, so they physically could not sell them.
However, Q1 2020 sales showed that the Chinese have a strong interest in Tesla. The company sold about 19,000 cars over the first quarter, as evidenced by registration reports.
In addition, the company's cars became the best-selling in each month of the first quarter among all EVs sold in the country. The generous incentives of the Chinese government to buy EVs, an online sales model, contactless test drive, and delivery have a positive effect on Tesla car sales in China. The automaker has great prospects in the Chinese market, as evidenced by statistics.
On May 15, 2019, Jim Collins wrote in his article for Forbes: "Tesla is dying a slow death and the industry has noticed." His words perfectly describe what is happening now, but with manufacturers of ICE cars, and the reason for their slow death is Tesla.Follow @EvaFoxU