Tesla blames slowdown in electric-car growth on other automakers

AutoExec Summary
Despite a decrease in sales this year, Tesla CEO Elon Musk attributes the slowdown in global electric car sales to other car manufacturers not producing attractive electric vehicles. Musk mentioned a decrease in Tesla’s deliveries, which have gone down by 6.6% globally and 9.6% in Australia. He noted that other automakers have also experienced declines in demand for their electric vehicles, opting to focus on hybrid vehicles instead. Despite the current challenges, Tesla remains committed to electric vehicles and autonomous driving technology as key sources of future revenue and demand. Musk expressed confidence in the potential for fully autonomous driving by the end of this year or next year. Tesla’s CFO highlighted that two-thirds of the company’s recent US deliveries were from new customers, indicating ongoing efforts to expand their customer base through advertising and awareness initiatives.

Brands mentioned: Tesla, Model Y